On Target Newsletter

On Target is a free, moneycraft newsletter for Martin Spring’s worldwide circle of friends and contacts. 

Latest newsletter editions

On Target 2023.01.14

The end of the easy-money era rips the mask off the insolvent zombie economy. The world economy is lurching toward an unprecedented confluence of economic, financial, and debt crises, following the explosion of deficits, borrowing and leverage in recent decades.

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On Target 2022.11.12

Risk assessment should be the first step when choosing any investment.

You cannot avoid risk entirely, nor should you – it’s the price you pay for the prospect of higher returns. Equities generally deliver higher total returns over the long term than bonds because they’re riskier.

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On Target 2022.10.15

China’s economic output will lag behind the rest of Asia for the first time this year since 1990, according to World Bank forecasts that highlight the damage done by President Xi Jinping’s zero-Covid policies, and the meltdown of the world’s biggest property market.

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On Target 2022.09.17

The biggest theme for stock-market and bond bulls has been the fountain of liquidity gushing out of central banks for the last 14 years. That has compressed yields and boosted the share valuations of companies that make the best use of cheap capital. But the situation is changing as central banks raise interest rates and withdraw their support from bond markets. It’s why valuations of high-growth giants have been falling.

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On Target 2022.08.20

Planning and managing your personal finances – a process that I have dubbed moneycraft – is a skill that I’ve written about for more than half a century. And I’m still learning.

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On Target 2022.06.25

Earlier this year I cashed in most of my shares – something I haven’t done since I was a young investor. Why? Because I reluctantly concluded that too many things were going wrong with the world economy… In combination they argue for painful recession, perhaps even depression.

Look at the list of negatives…

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The most read

On Target 2019.05.18

In managing our lives, and in particular our money, we make mistakes because we’re humans, not machines or pieces of code. They’re mistakes rooted in the ways we behave. Increasingly those ways are explained by scientists in the field of what is known as behavioural finance.

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On Target 2019.02.02

Our Diamond Wedding, which Liz and I have just commemorated, got me thinking about what are the factors that make for a happy marriage… in this case for 60 years.

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