An independent (financial adviser's) view

The geese are getting fat...

“Defined benefit pension transfer values 'shooting up' “

Twenty or more years ago, the 'eye-watering' sums offered as transfer values by final salary pension schemes caused the pensions mis-selling scandal, the famous forerunner of PPI and boom-times for Indian call centres. Transfer values are again bringing tears of joy to many eyes, particularly as 'pension freedoms' mean you can actually get your hands on the cash (and often pay lots of tax; sauce for the gander, to add a seasonal note). Just saying, and not saying it's right for everyone, and lots of 'elf and safety warnings apply, but it's a thought.

 “Boris Johnson's Saudi 'proxy wars' comment 'not UK's view' “

 I stick to my view that appointing Boris Foreign Sec was a clever way of ensuring his self-destruction (as long as we're not all destructed along the way). As Chancellor, however, he might have been thick-skinned enough to actually simplify our tax system, sort out the regulators as well as providing bikes for every JAM (Just About Managing families, remember?) Or bankrupt the nation in weeks. It would go one way or the other, that's for sure.

 “Carney: the future of free markets at threat”

 The borderline between politics and finance is often blurred; I’ve upset a few who don’t like me stepping over. However, I was told, by no-doubt brainwashed economics teachers in the Socialist Seventies, of the benefits of a Mixed Economy: free markets tempered by some nationalised state stuff. Now it seems we can only have one or the other. What happened to the good old British art of compromise? Guess we needed it more then when everyone was on strike. 

 “Italy referendum: 'Period of uncertainty' predicted“

At the start of the week, it was the Italian Referendum which dominated the many end-of-the-world-as-we-know-it emails from fund managers and the like. Here's the thing, though. Since the war, Italy has had 29 prime ministers and 65 elections. It's a way of life, and, just because of our Brexit-hissy fit, we shouldn't be surprised that they've decided to get rid of someone who wanted to cut their pensions and make them pay tax. Give them a break; after all, they gave us pizza, pasta, Pavarotti and the Fosse Way (for London readers, that's local colour).

 “Glencore and Qatar buy $11.3bn stake in Russia's largest oil company “

 A huge boost for the luxury yacht and Mayfair property market went under the radar this week. A big chunk of Russian oil was sold. On its list of owners, along with the Russian government and BP are 'Individuals' and 'Unknown'. Some might speculate that some funds might circulate out of Russia. That speculation may, of course, be unfounded and I'm keen to make it to my next big birthday…

 …PS I bravely (with eyes peeled for poisoned umbrellas) posted the above on Twitter, and gained a new follower: a luxury yacht charter company. Maybe I was on the money after all!

More soon, 

Philip