We hope that you are keeping safe and healthy – that this Spring is genuinely re-freshing for you and your families.

The pandemic and associated restrictions have meant working harder to maintain relationships: arranging “What’s App” or “Zoom” meetings to stay close to loved ones who are remote. “G” a long-time client, helped me think further about this yesterday when she reflected that at least we have video calls today, where the remote connection is more real.

Two items in our news app this month, made me think about how technology has changed so much in twenty years. There’s a “TED” talk on gaming. It’s something I’ve ‘tolerated’ but never given a second thought to – however, this mum’s story about relating to her sons gave me a new perspective … and do you know that “e-gaming” is being considered for the Olympics? Then there’s a video on the most used websites. This gives real perspective on businesses coming and going – how some will rise while others will slip off the radar: Google’s entry to the list in 2001 and meteoric rise to the top where it’s stayed; Amazon’s entry in 1998; eBay in 1999; Wikipedia in 2005; YouTube in 2007 – while Britannica and AOL have slipped out of the top 10.

Which leads to thoughts about adapting one’s investment philosophy for the years ahead. Interest rates may stay low for decades – so said Paul Bloxham, chief economist for HSBC Australia in a talk to the Australian Shareholders’ Association last month. Low rates will help Governments pay off their massive debts, which have ballooned as they’ve thrown money at the Covid-related financial crisis. It emphasizes the need for growth in investments – and probably that genuine active managers are needed to pick and choose investments with better growth prospects. Even Vanguard, the leading, mainly passive index manager, has ‘blogged’ about the importance of some active management.

Wishing you healthy and happy Spring,

Tom, Maria and Kerrie

at Financial Springs