There are three times of the year when I find it hard to write loads of articles about markets and macro stuff. The first is Christmas (for obvious reasons), the second is Easter because the UK market is closed on both Good Friday and Easter Monday, and the third is the late August period. After all, hardly any corporate names are reporting, the world’s politicians are sensibly on holiday (and don’t ask me to talk about the new PM push!) and when I tried to write yet another macroeconomic piece yesterday, I found I had already basically said it last Friday! Fortunately, I noticed a bit of updated fun on Sky News re Joules Group (JOUL) and Next plc (NXT).
We all know that the macroeconomic backdrop will be somewhat different during the 2020s than what we saw in the 2010s. I am sure it will worry some investors, but maybe one advantage of being a bit old is that you have seen plenty of stuff and you don’t need to read too many history books to find truly tricky times. As for your pension fund and related, it is always how you react to challenges that really matters. The same is true for a company. So, kind of interesting to see the comments from Joules Group (JOUL) this morning.
Whilst Aston Martin Lagonda (AML) shareholders may be pleased that their shares are up over 6% today, it still remains a comedy investment. I am sure the cars are very nice but despite all the chat about 2022 guidance maintained and a “successfully launched DBX707 ahead of Q2 deliveries”, the reality is still centred on losses and higher net debt levels. It remains a car company controlled largely by the rich for the rich. Despite the wealth of its Chairman and the 92% share price fall since its most recent IPO in 2018, it remains an avoid for me (at many levels). So if fast and flashy cars are not really my thing, what about the “premium lifestyle brand and group with an authentic heritage and values of family, fun and joy in the countryside” offering of Joules Group (JOUL)?.