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Philip Coggan was investment editor of the Financial Times. He wrote the Long View column, which appears every Saturday, and the Last Word column for FT Fund Management, which appears on alternate Mondays.
In previous posts at the FT, he had been markets editor, economics correspondent, personal finance editor and Lex columnist. His publications include Easy Money, published by Profile Books, and The Money Machine, published by Penguin.
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The Short View: Asset prices
Who would be a financial pundit? Investors could take their pick from a welter of economic statistics and use them to justify any number of views on asset prices, writes Philip Coggan.
The Short View: Markets’ mood
Traders creeping back to their desks after the summer will find the mood of the markets has changed significantly. Producer and consumer price data in the US have calmed the widespread worries about accelerating inflation, writes Philip Coggan.
The Short View: On rate cuts
It does not normally take long, after rates appear to have peaked, for economists to start speculating over when the first cut will occur. Goldman Sachs waited only a week after the Fed’s last meeting before saying US rates would have to fall by 125 basis points next year, writes Phillip Coggan.
The Long View: Darwinian truth lies behind the struggle to make investment headway
A stock market is made up of humans interacting; their perceptions (and the way they act upon them) change the conditions, which makes it extremely difficult to predict financial markets.
The Short View: Will the Fed’s gamble pay off?
What should investors make of the Fed’s latest decision, asks Philip Coggan. Equities rose on the news, only to fall subsequently; the dollar fell, only to rise. Treasury bond yields moved modestly higher.
The Short View: Commodities are attractive as ever
The prime driver in commodity investment has been the spectacular rise in raw material prices. But another factor is that institutional investors should be diversifying, writes Philip Coggan.
The Short View: Economy in trouble?
Few would have predicted that the price of crude would be hitting $78 a barrel by this stage of the year. But there have not been many occasions when oil has been seen as the driving force for moves in other asset markets.
The Short View: Don’t worry about the party ending
Central banks are not so much taking away the punch bowl from the party as handing guests their coats and holding the door open for them to leave, writes Philip Coggan.
The Short View: Only for those with strong stomachs
A rising tide raises all boats. But in the markets, a wave can also swamp all the boats. This phenomenon appears to have been at work in the emerging markets in recent weeks, writes John Authers.
The Short View: Markets recover lost ground
Financial markets may have suffered in the correction that began in early May, but the worst now appears to be over, writes Philip Coggan.
