Blain’s Morning Porridge – 8th March 2021
Welcome to a new look Morning Porridge and www.morningporridge.com website.
It’s been fun setting up the website hosted on WordPress. It’s designed to be more professional – and is far more complex than the previous model. Two friends from the Financial Tech World helped me out –Edward Bearcroft told me what to do, and Deb Shaw made it all happen! Everything from the logo to the disclaimer is new.
The new format will enable readers to go directly to the most recent comments, and search the site for words of wisdom/BS on all kinds of subjects. There are links to articles I’ve written for financial media, Shard Capital Media, and soon there will be a daily podcast.
I had to shift the website. Last year the site hosted on a cheaper platform suffered countless crashes and dumped 1000s of subscribers in a purge of my email lists. Eventually, they told me their service wasn’t really suitable for the number of Porridge Subscribers. It was one of their top ranked sites in terms of daily visits.
Please take a look at the new site and let me know what you think – I’m more than happy to take advice, and to make changes!
The biggest change is the Morning Porridge will go subscription in April. This does not mean you will lose FREE access to the site if you are short of arm and deep of pocket. The reason it is going subscription is the rising costs of sending over 200,000 emails every month to subscribers.
If you sign up for the Bronze service you will get a weekly round-up email on markets and links to the Morning Porridge articles. You will also be able to access all the data and articles on the site.
If you like the Porridge and want the Porridge delivered daily the moment its published, then subscribe for Silver.
If you are a market professional and want to show your compliance officer it’s “paid for research” under Mifid, then please sign up for Gold! (It gets you the right to rant at me directly, and there will be gold member events and webinars!)
The subscription pages will open at the end of March.
Until then, sit back, enjoy your daily porridge, and please let me know what you think.
Shard Capital and Morning Porridge.
Blain’s Morning Porridge – March 8 2021:
“A strong woman looks a challenge in the eye and gives it a wink..”
This morning: Women’s Day! How strong might be the fallout from the collapse of Greensill and unravelling of Gupta in a market already wary of politicians?
Today is International Women’s Day! We should all be thinking about the most inspirational women in our lives. Got to be honest and say it’s my Mum who did more to make me what I am than anyone else – and still does! But I’ve had the great pleasure to work with and learnt from some of the smartest and most influential women in markets – there is nothing I can do they can’t do better.
From the stunningly successful fund manager who also bakes the very best cakes on the planet, the smartest economist who presents the most scathing deep analysis, to the unshakable saleswoman who did persuade the Eskimos to buy ice, they know who they are, and I thank them. (And, of course; She-who-is-Mrs-Blain – who juggles Finace and Tech, and running our lives without a second thought!) There are still not enough women in the global financial markets – but its changing and that’s a great thing.
On the other hand, on the first day when its not coronavirus dominating the UK news flow, it’s the Megan Markle interview that’s hooked everyone. Woah! Is it just me or is there an agenda there? I’m not a monarchist, but to trash the whole of the UK as institutionally racist and bullying as a result of the alleged behaviour of a single family is a bit rich. I don’t suppose the Sussex’s will back for a long time.
Back in the real world:
The agenda for this week is likely to figure the ongoing unravelling of the Greensill/Gupta empires. Described last week as “the first roach to get crushed”, I reckon there are a number of senior politicians very concerned how their connections to Greensill could play out. I’m equally intrigued how badly Gupta craters – especially when we work out just how much in UK Coronavirus recovery loans GFC has been able to scam.
The apparent links between the top levels of government and some of the dodgier elements of finance in the UK is beginning to cause concern. If it’s not the stories of how a UK Minister’s mate from the pub managed to make millions not supplying PPE, to a former Prime Minister shielding dubious financial marketing, there is a growing sense that something is rotten. Time for a serious purge of business links to Parliament?
That sense of something serious awry in markets is also playing out in the States where the extreme valuations on the over 275 new SPACs, and the ongoing speculative bubbles are raising serious concerns about how social media, deep fakes, and news manipulation is spinning the market narrative – there is a great story you should take time to read on Chamath Palihapitiya and SPACs driven on the back of little more than showmanship.
Otherwise, markets are going to be looking at the recovery/bond story. With oil back about $70 on recovery (and another strike on Saudi facilities), the strength of the February US Jobs support and increasing signs the Coronavirus is beaten in the US and UK as a result of successful vaccination programmes, just how long can interest rates remain low and supportive of stock markets?
Five Things To Read this Morning
Out of time and back to the day job!