News & Insights

Gary explains why the failure of the business cycle to behave as everyone thought it would and technological progress driven by AI could be the catalyst for a brighter future for the economy, as well as providing Courtiers with exciting investment opportunities.

With the party conference season in full swing, Gary shares his thoughts with Leo on the state of UK politics, and whether it really matters who wins the next general election. He goes on to talk about the Courtiers portfolio, highlighting infrastructure funds and house builders as representing particularly good value.

Despite the Bank of England raising the base rate for the 14th time in two years, there’s light at the end of the interest rate tunnel for hard-pressed borrowers, says Gary Reynolds, Courtiers CIO.

The reason why there was “no significant reaction” to Fitch’s downgrading of US debt announced earlier this week was because it was a “nonsensical decision” and not one grounded in reality, says Gary Reynolds, Courtiers CIO.

In this research note, Gary Reynolds, Courtiers CIO, explains why despite higher revenue and profits, and better cash flow, Stellantis, the owner of a number of global marques, including Peugeot, Maserati and Vauxhall is valued at around $56BN while Tesla is valued at a staggering $835BN, around 15 times higher. The outperformance of growth stocks such as Tesla since the beginning of 2023, only accentuates the differences in valuations between growth and value stocks and creates considerable opportunities for value investors like Courtiers, he says.

The UK’s finances are stronger than the vast majority of economists think, says Courtiers CIO Gary Reynolds. While a repeat of the early 1980's 'groupthink' when so many economists got it wrong on the economy is a real possibility, he suggests.