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The Accumulator: managers worry as markets threaten to overheat

The third issue of The Accumulator, our free, weekly investment newsletter, is online now. Don't miss it!

The Accumulator: managers worry as markets threaten to overheat

The Accumulator, our free, weekly, two-page investment newsletter rounding up what the best fund managers around the world are telling Citywire journalists is available now.

Each issue of The Accumulator is free and features:

  • An easy-to-read article explaining what top fund managers are saying.
  • A unique table of data showing how global stock markets, currencies and the main asset classes are performing.
  • This data is not currently available on the Citywire Money website.

To access this free PDF please log in or register with site by following the instructions below.

Welcome to the latest issue of The Accumulator

20 comments so far. Why not have your say?

david madgett

Jan 22, 2013 at 18:05

"If you can't see this message you need either to log in or register with us"

Hmmmm - Haha

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James Muir

Jan 23, 2013 at 10:24

I've logged in and I'm registered but can't access The Acculator.

I give up! Where have you hidden it?

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Tim Cooper

Jan 23, 2013 at 10:56

The "Thank you for signing in ...." message is the last para of the text (immediately after the three bullet points) and immediately before the "Comments" paras. The "Thank you ...." para includes a link to the The Accumulator.

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Retired Reader

Jan 28, 2013 at 11:02

If you are already registered click on the "The Accumulator" wording which appears just above ''email a friend''

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Naseem Ahmad

Jan 29, 2013 at 16:01

I am also logged in but do not see the newsletter !

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David Beugelsdijk

Jan 29, 2013 at 16:05

Naseem, like stated above: just click te link "The Accumulator".

Glad they put a few extra test-pages in for us. Who knows what might've happened without them.

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Jan 29, 2013 at 16:10

I clicked on "the latest issue of The Accumulator" and it leads to a .pdf file which when opened reveals the newsletter.

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wayne roberts

Jan 29, 2013 at 16:24

I found the 2 pages with the word 'TEST' on particularly enlightening..

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Jan 29, 2013 at 16:27

If you have a Mac it should go straight into Downloads.

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Ian Holmes

Jan 29, 2013 at 16:36

Here we go again:

"Alastair Mundy says........."

Why is this guy, last rated by CityWire as "A" in 2011, and never in the past 10 years reaching AAA treated as a CityWire guru ad nauseum?

When I see his rating against his peers (in 2012 he managed a miserable 224 out of 240 peers for goodness sake) and the ratings of his funds in the top quartiles, I'll pay attention. Until then...............where's the "delete" button?

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Geoff Downs

Jan 29, 2013 at 16:41

Ian Holmes,

Feels like he's touching a nerve.

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Ian Holmes

Jan 29, 2013 at 17:08

No, not touching a nerve Geoff. I just get annoyed when so-called professionals pontificate to we amateurs when they really have no track record at all. In addition to that they get paid enormous management fees for managing clients' funds badly. The clients suffer and the so-called professionals laugh all the way to the bank..

I don't have any of Alastair's funds, and those who do, should get shot and invest with someone who performs. Its the only way the retail investor can have any clout!

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Geoff Downs

Jan 29, 2013 at 18:03


Thanks for those comments. At present the investment world seems slightly unreal. Many countries are in serious debt and QE is being used. The effect on markets seems to be to inflate them, whereas the real economies continue to struggle.

I think therefore that those fund managers who warn of dangers should be applauded. There are certainly plenty of them around advising investors to pile into the market and you wonder sometimes whether they put their own interest ahead of that of their investors.

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Anonymous 1 needed this 'off the record'

Jan 29, 2013 at 18:51

I worked as an analyst for a number of years though not in the financial sector. Analysis was always a case of making an informed judgement and then 'proving' it with lots of data.

The true secret of success though is telling the customer what they already know and/or want to hear and 'give good slide'.

Yes they will put their interests first as being 'right' is in their interest but make your own judgement, go with who agrees with you and then don't blame the analyst.

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Keith Snell

Jan 29, 2013 at 20:43

It would be very surprising if the markets particularly the FTSE was anything other than oveheated many stocks are at prices which their trading position and dividends do not justify. I took some profit today and have lready decided which stock to sell next. This must be a time for holding an increased level of cash.

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Jan 29, 2013 at 20:44

Got to say, I've held Temple Bar for quite a few years now, as one of my core holdings, and it has continued to produce a reasonable return for me. OK, I hold one or two "Flashy" trusts for a bit of excitement, but the backbone of my portfolio are the steady trusts such as Temple Bar, City of London and the like. I like to think one of the flashy ones might one day make me rich, but rely on my core to attempt to not make me any poorer than I already am. :-)

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an elder one

Jan 29, 2013 at 22:12

By the end of 2012 the footsie had barely recovered after 2011, in my experience and now in Jan 2013 I am back in positive territory, I might thus argue shares are. Reasonably priced. Who can say!

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an elder one

Jan 29, 2013 at 22:18

Rather I meant my portfolio not the footsie

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an elder one

Jan 30, 2013 at 07:39

It's climbing that 'wall of worry' one often hears talked about; I hope!

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martin hargan

Feb 04, 2013 at 08:58

agree with Johnd . Temple and City good solid funds well run inexpensively conservatively.See performance Stats at AIC.Its not football you know.

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