As we come to the end of the year, Gary responds to some clients’ questions from the Courtiers 2021 Client Seminars.
Gary gives his opinion on Rishi Sunak and points out the similarities between Courtiers’ approach to stock selection and its growth by acquisition strategy. Finally, he strikes an optimistic though not complacent note about the coming year.
Everyone will have their own views of how the Chancellor Rishi Sunak has performed during the pandemic. While critical of the planned rise in corporation tax, which he says is not what’s needed to boost business investment, Gary says “overall, Sunak has hardly put a foot wrong.”
On the pandemic itself, Gary is optimistic that “we are probably close to the peak.” This is no blind optimism, however, but follows conversations he’s shared with medical professionals along with careful research into previous pandemics. The relationship between the path of the virus and the markets is not a straightforward one. “In both 2020 and 2021, we made good money for clients,” he says.
Gary also explains why keeping the duration of Courtiers government bonds short is a key facet of Courtiers’ three part investment strategy.
As a business, Courtiers has grown steadily over the past 15 years. In this interview Gary reveals that the approach to acquiring other firms “is exactly the same as we use when buying stocks.”
When choosing stocks, it’s important to keep an eye on the macro trends. That’s why Courtiers ”has to be very careful of going into stocks which are not onboard with the twin themes of global warming and renewable energy.”
Looking ahead to 2022, Gary says that while overall he is ”quite positive”, he is not complacent. “You are always mindful of where the risks are going to come from.” The last two years is certainly proof of that.
Wishing all our clients and readers a Happy New Year and a prosperous 2022.