News and insights

Donald Trump understood one thing: the power of anger. During his campaign, Trump perfected, what Matt Frei, author of Only In America, calls ‘the art of bottling the anger and spraying it out when needed’. He unleashed the fury of working class America.

The British general election campaign was strange and dystopian. Punctuated by Islamist terror attacks and almost devoid of detailed debate on economic policy, the weeks leading to 8 June were dominated by a sense of weary resignation.

Freed from the shackles of censorship, the anti-boundaries protagonists of the 1960’s anti-establishment evolved into the alternative thinkers that defined Silicon Valley and Jobs, the poster child for how computers would free the consumer and citizen.

Past performance may not be indicative of future results. Asset allocation it relies to some extent on the past. And the past is a long time. One of our key human weaknesses is the tendency to overweight the recent past in any analysis of the future.