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Andrew Vaughan

Andrew Vaughan has worked as a senior equity analyst, stockbroker and private finance businessman in London, Singapore, and Jakarta. He shared his 17 years’ experience with members of the Zurich Club, where he was Investment Director.

 
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CGT: A Troublesome Tax - by Andrew Vaughan

Since its introduction in 1965, capital gains tax (CGT) has generated little revenue for the Exchequer, but has anguished investors and generated plenty of political heat. The latest twist was the shock announcement of a proposed removal of taper relief and the introduction of a single 18% rate of tax. Irrespective of the merit of these moves, the overriding impact is the sense of utter unpredictability that these political manoeuvres bring to CGT...


The Souring of Sentiment - by Andrew Vaughan

There are times when it is not right to be invested in equities, and this is one of them. This is a flagrant generalisation of course and there will always be some individual equity situations that can prosper but we are saying it nonetheless. It is not that we think valuations are excessive. Indeed, earnings yields are comfortable relative to the price of money, or interest rates. Nor do we think that sentiment is overly bullish. Rather, investor sentiment has taken a big knock in recent months. It is simply that very significant sums of capital have been destroyed in the one sector that inescapably impacts on all other sectors the banks...


Why economic growth is good and inflation bad - by Andrew Vaughan

...Current official inflation, even at around just 2.5%, will halve your purchasing power in less than 30 years...


Slow economic growth, accelerating inflation - by Andrew Vaughan

...Slowing growth, accelerating inflation - these are the two major fears of investors today...


Interest rate overkill? - by Andrew Vaughan

...Statements from the Fed seem to have switched from giving coded guidance about the future direction of interest rates, to giving insight into the Fed's current economic hopes and fears. The upshot is something that investors hate more than anything else a lack of clarity about the future. Are we moving into an era of interest rate overkill?...


Is the market volatility over? - by Andrew Vaughan

...Last months dark days of slumping markets have yet to pass. Great shares at bargain prices now litter the global markets. But it would be wrong to say that it is party time again...


Guaranteed Equity Bond Issue 11 - by Andrew Vaughan

...There is no time to waste. Guaranteed Equity Bond Issue 11 closes at 6pm on Tuesday, 27 June – or earlier if the issue is fully subscribed. Its offer is unique, and well worth your consideration...


Bank of Japan's consequences on the world markets - by Andrew Vaughan

...Developments concerning the Bank of Japan have yet to play out in world markets. But the consequences on the world markets could prove dramatic...


Oil and Gold Suffer... - by Andrew Vaughan

"...Across the Sea of Japan, meantime, neighbouring South Korea raised interest rates again for the third time in five months in February. So while foreign investors may still be buying Japanese shares, the locals are selling. My long-term optimism for Japans recovery remains in place..."


Oil price high, stock markets low - by Andrew Vaughan

...There is something strange happening in global markets. The oil price is scaling new heights, yet stock markets are too. How can the soaring cost of energy be anything other than negative to the global economy?...



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