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Risk and return explained
In investing, as in life, we do not always benefit by taking risks. Not every risk in a portfolio comes with a corresponding return and...
Eugen Neagu
8 min read


Is this the time for value investing?
Factor investing is an investment strategy that chooses securities on attributes which based on empirical research are associated with...
Eugen Neagu
4 min read


We are humans, not failed investors
The proliferation of biases and fallacies masks the truth i.e. that human behaviour is fluid and blurry. The use of labels implies a...
Eugen Neagu
2 min read
Unlocking Wealth: How Non-Investors Can Thrive by taking Advice
Introduction Investing can seem like a daunting task, especially for those who have never dipped their toes into the financial markets....
Eugen Neagu
3 min read


How not to lose your shirt when investing?
Investment losses are not only an emotional problem, but also an objective one, because investors have financial objectives which they...
Eugen Neagu
4 min read


Letter to our investors – 2023 Q3
The third quarter was relatively quiet, with no increases in interest rates in the UK and the U.S., only a couple of increases in Europe...
Eugen Neagu
5 min read


How the S&P 500 sectors have performed and what could be learned from this?
Charlie Munger once said: Over the long term, it's hard for a stock to earn a much better return than the business which underlies it...
N2 Asset Management
4 min read


Q2 2023 Review
The second quarter continued with increases in interest rates by ECB, FED, and Bank of England. The Bank of England was quite aggressive...
Eugen Neagu
3 min read


Q1 2023 Review
The first quarter continued with increases in interest rates by ECB, FED, and Bank of England. Generally these increases were expected...
Eugen Neagu
7 min read


Gravity – why we should not fight it!
Uncertainty, risk and investing for retirement As you are probably aware, there has been a lot of volatility in the last few days...
Eugen Neagu
8 min read


What is going to happen to the stock markets?
I am getting this question from a lot of people, clients, prospects, other advisors etc. Forecasting the future is not easy, however,...
Eugen Neagu
8 min read


Sharing economy marketplaces
245 years ago, Adam Smith wrote “An enquiry into the Nature and Causes of the Wealth of Nations”, in which he put down his economic...
Eugen Neagu
4 min read


Spawners – the pinnacle of high-quality investing
“Starting in day one requires you to experiment patiently, accept failures, plant seeds, protect sapling, and double down when you see...
Eugen Neagu
4 min read


Value investing, but not as you know it - intangible assets
Every now and again, some prospects or new clients will ask us why we do not recommend “cheap companies” for their portfolios. They may...
Eugen Neagu
3 min read


Why Quality Investing (Part II)
Having described in the previous part what we mean by high quality investing and how we could find these companies, I think it is also...
Eugen Neagu
5 min read


Doing whatever it takes
This week’s blog is a follow up on the Ray Dalio interview on Bloomberg, where I have added some of my own thoughts based on the balance...
Eugen Neagu
5 min read


Going negative
The Federal Reserve (FED) has avoided in previous recessions to have negative interest rates. But this seems now to change. On 26 March...
Eugen Neagu
4 min read


Post coronavirus investing – uneven recovery?
With China relaxing the ‘stay at home’ rules, diners and shoppers started to emerge from the month-long closure of public areas to...
Eugen Neagu
3 min read


Asset allocation in times of pandemic
Capital allocation is a topic of huge importance, and we believe we need to remain rational (especially now) and use clear thinking for...
Eugen Neagu
2 min read


What can we expect?
Having read the forecast given last night by Goldman Sachs which explains that the U.S.’ Gross Domestic Product (GDP) will contract in...
Eugen Neagu
5 min read
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