Gold in the age of fiscal dominance
With government debt levels at historic highs and inflationary pressures lingering, fiscal dominance is reshaping the global monetary landscape. Central banks are increasingly caught in a delicate balancing act – controlling inflation, while also managing the burden of sovereign debt and excess liquidity. At the same time, the US dollar’s role as the world’s primary reserve currency is facing growing scrutiny. Amid this evolving environment, gold is reasserting itself as a trusted store of value.
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Don’t just stand there
At the Allan Gray Fund Provider 2026, held on 4 and 5 February 2026, Mark Dunley-Owen, portfolio manager at our offshore partner, Orbis, shared updates on th...
Orbis: President’s letter 2025
In his annual President’s letter, Adam R. Karr, from our offshore partner, Orbis, reviews the strong performance of the Orbis portfolios over the past 12...
What if Trump is right?
Maslow’s hierarchy of needs framework helps us understand both today’s shifts and the implications for markets. While capital was flowing towards the top of...
Is the world’s safest currency actually the riskiest?
The dollar’s safe-haven status is cracking under the weight of debt, deficits, and political risk. Once a symbol of stability, it now looks fragile and...
Are you swimming in the right water?
For decades, global markets revolved around export-led growth and the gravitational pull of US assets. Now the currents are changing. Graeme Forster, portfol...
Which risk runs deeper: owning or avoiding emerging markets?
Emerging markets (EMs) account for more than 80% of the world’s population and more than half of its gross domestic product (GDP) but less than a tenth of...
Is AI a bubble, or is the best yet to come?
Artificial Intelligence (AI) is reshaping industries at a remarkable speed. However, its rapid rise has sparked bubble-like behaviour. Extreme valuations,...