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Discretionary Investment Management

Discretionary Investment ManagementDiscretionary Investment Management

May 2020 - Market Commentary

The end of the beginning

“Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning” - Winston Churchill


Over three hundred and fifty years ago, back in 1665, Isaac Newton socially distanced himself from the horrors of the then rampant bubonic plague and - away from his burgeoning academic career at Trinity College in Cambridge - enjoyed a ‘year of wonders’ at his

childhood home. During this period he formulated a theory of universal gravitation, explored optics and discovered differential and integral calculus. I would not feel bad if your own lockdown experiences and achievements do not move the history books quite as much as the man who formulated the laws of motion and

universal gravitation did. As acknowledged multiple times

nationwide over recent weeks, normally unsung heroes and heroines are the backbone of any country.


By contrast, the world’s equity markets have been gracing the history books in recent weeks, with typically the biggest monthly falls in around a decade in March followed by the biggest monthly rises in around a decade in April.

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