January is always a miserable month to be in London. Thankfully I managed to get away a bit during the month (not to Davos, no), and enjoy myself in London despite the wintry weather.

What you’re paying for in Mayfair these days
Market movements in January
The markets on the other hand were positively hot. There was some general sentiment – in Davos in particular from what I read – that the doom/gloom of Q4 was overdone. Inflationary expectations are declining. And markets, as a result, lifted dramatically. Equities and bonds rose markedly everywhere. In constant currencies, the markets I’m exposed to (with my leverage included) rose 5.0%.

The GBP rose slightly against the USD, and dropped a bit against AUD. On balance, foreign currencies dropped 0.94%. So my index rose 4.0% – the currency movements taking a small dent out of the constant currency figures.
Continue reading “Jan ’23: Mr Market defuses my tax bombshell”