Tom Stevenson

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Full name: Tom Stevenson

Area of interest: Finance: Investment

Journals/Organisation: The Daily Telegraph


Personal website:







Education: Durham University; Clark University

Career: Written about investment since the early 90's - Investors Chronicle: Companies Editor; The Independent: City Editor. Also edited 'Investing for Growth', an investment newsletter and launched the investment email service Hemscott Analyst

Current position/role: Columnist and investment director and head of corporate and investment communications at Fidelity International

  • also writes/written for:

Other roles/Main role:

Other activities:



Broadcast media:






Books & Debate:

Latest work:



The Daily Telegraph:

Column name: Investment Column

Remit/Info: "Takes the pulse of the big issues and themes driving the world’s investment markets, from shares to commodities, behavioural finance to asset allocation"

Section: City

Role: Columnist




Commissioning editor:

Day published: Tuesday

Regularity: Weekly

Column format:

Average length: 900/950 words

Articles: 2016

Articles: 2015

Articles: 2014

Articles: 2013

Articles: 2012

Articles: 2011

Articles: 2010

  • Take a long-term view on emerging markets - Investment is sometimes a case of getting one or two big decisions right - 26th December
  • Forecast for Europe not as icy as it appears - It is a fitting coincidence that my spin round the world's major markets over the past few weeks should return to Europe just as the cold snap bites again. Last week's thaw accompanied my look at the US, where recovery is slowly but surely getting under way - 19th December
  • Why US equities could be hard to beat in 2011 - Hosting a debate between a panel of fund managers and asset allocators recently, I was struck by the unanimity of their views on what would be the best-performing geographic area next year - 12th December
  • Big companies offer some warmth for a chilly Britain - Looking out of my window at an unseasonal foot of snow, I am trying not to allow the level of the mercury to influence my outlook on the UK economy for 2011. Try as I might, however, I can’t avoid concluding that things look pretty chilly next year - 5th December
  • Forget the dollar and gold, here are the real safe havens - Contemplating eurozone disintegration, renewed hostilities in Korea and an anti-inflationary clampdown in China, investors' default reaction has been a time-honoured retreat into the perceived safe havens of the dollar, Treasuries and gold. I'm not sure this makes much sense - 28th November
  • Lessons from history in China's inflation crisis - History makes clear why the Chinese are so twitchy about their rapidly rising consumer price inflation. The governments of poor countries (even ones that are getting rich as rapidly as China) know that hungry people are quick to take to the streets - 21st November
  • For most, equities are still a step too far - A feature of investment markets this year has been the so-called risk-on, risk-off trade whereby investors have swung between an appetite for more risky assets like shares and commodities and a desire to play it safe in the perceived calm havens of government bonds and cash - 14th November
  • Fed's reflation express must keep on rolling - The governments of China, Brazil and Germany may think it's worth squaring up to Ben Bernanke, but investors in the UK stock market and plenty of others around the world are wisely acting on that old investment adage: Don't Fight the Fed - 7th November
  • A must week in the US markets for investors - The US stock market struggles to generate the same sort of interest as the readily understandable and exciting emerging markets narrative - 31st October
  • It's every nation for itself in the devaluation race - Is it really only two years since the world's most powerful nations stood shoulder to shoulder, promising to do what it took to haul the global economy back from the brink? - 24th October
  • For the markets, there is a silver lining to the dark cloud of spending cuts - When Gordon Brown ditched prudence eight years ago, a group of service companies saw their opportunity - 17th October
  • Why I'm with Warren Buffett on bonds versus equities - Follow the herd or follow Warren Buffett? That sounds like it should be a pretty simple choice for most investors given the average investor's consistent ability to buy and sell at the wrong time and the sage of Omaha's ranking as one of the world's richest men - 10th October
  • Brazil's destiny assured under former Marxist guerrilla - Brazil goes to the polls today looking almost certain to elect a former Marxist guerrilla as the country's first-ever female president - 3rd October
  • Vince Cable was right on the evil of short-termism - It was a shame that Vince Cable chose to dress up his speech to the Liberal Democrat conference as a populist rant against the evils of capitalism because there was some sensible stuff lurking behind the rhetoric. In particular, he was right to worry about short-termism - 26th September
  • September is a tricky time for investors - The middle of September is not the easiest time for investors to keep their nerve, so I suppose I should not have been surprised to read references in an otherwise mainstream piece of market analysis to next week's autumnal equinox and full moon - 19th September
  • As prices soar, give food some thought - Food has hit the headlines again in a reminder of the spiralling inflation and social unrest that swept through the developing world in 2008 - 11th September
  • Has the bottom fallen out of equities? - Asked what he thought about the French Revolution, Chairman Mao famously replied that it was "too soon to tell". His point, I suppose, was that events which seem important at the time may be less so when viewed as part of the great sweep of history - 5th September
  • With investors out of Africa, it's time to buy in - When I started out in financial journalism, I was handed a book called How to Read the Financial Pages. It was an excellent primer for someone with the ambition to write those financial pages but as far as I can remember it didn't tell me the most important thing about how an investor should read the business press, which, in a word, is backwards - 15th August
  • A franc exchange just proves the argument - I was reminded this week of some excellent advice in one of Warren Buffett's letters in the Berkshire Hathaway annual report - 8th August
  • Plenty of good news, but hold the champers - Where's Cerberus when you need him? The mythical canine could look into the past, present and future with his three heads - 1st August
  • Beating the market is dogged by difficulty - It is a weakness, I know, but when I see the words "Simple investment strategy that WORKS!" I can't help reading on - 25th July
  • Overhaul of retirement regime is long overdue - The Government's new pension plans will be a breath of fresh air, but if you don't start saving early you will still lose out - 17th July
  • Why history takes the side of the optimists - Stock market history never repeats itself exactly, but sometimes the similarities are uncanny - 11th July
  • Re-linking pensions to earnings is a gamble - 27th June
  • Budget 2010: time to go back to the future - Tuesday's emergency Budget will be a throwback to the days when the Chancellor's words mattered more to the City - 20th June
  • BP was a lot more vulnerable than its blue-chip status suggested - I was chatting last week with a retired BP exploration man who had worked for the company in the Gulf of Mexico. He said ruefully that his overall net worth had been hit hard by his old employer's troubles - 13th June
  • Gold is a great safety net if things go wrong - In these uncertain times, strong cases can be made for and against most investments - 6th June
  • Don't panic, there is good market news - The world's stock markets are increasingly joined at the hip, moving up and down in lock-step. So when major indices diverge significantly over a period of time, it's worth asking: "What's going on?" - 23rd May
  • The love-in is over and taxing times lie ahead - Even before Friday's euro-related wobble, the great Con-Lib love-in had elicited only a subdued response from investors - 23rd May
  • Market pressure will set summer agenda - There's not much to smile about from a UK market perspective this weekend but there is one piece of good news. If nothing else, the Bank of England is almost certain to leave interest rates on hold at 0.5pc tomorrow for a 14th consecutive month - 9th May
  • More domestic tragedy awaits the Greeks - It is fitting that Greece is at the heart of the eurozone sovereign debt crisis because the financial calamity which began three years ago is unfolding with all the grim predictability of a classical tragedy - 2nd May
  • Savers and investors deserve answers - It is no coincidence that next week's final leaders' debate is on the economy. If ever an election has had an over-riding theme, this is it. It is also unsurprising that the key economic issue – reduction of the £163bn budget deficit – has been the elephant in the room that no one has wanted to talk about - 25th April
  • Election's economic stakes unusually high - Most general elections are a non-event from an investment point of view because markets have plenty of time to price in the likely outcome and regular opinion polls ensure that genuine surprises are rare - 18th April
  • Why we can't leave Asian markets alone - Since the curtain came down on Thailand's absolute monarchy in 1932, the country has seen 11 military coups, 18 constitutions and 27 prime ministers. Political upheaval is a way of life and investors have learned to accept periodic turmoil as the price for access to a rapidly emerging market - 11th April
  • Investors need to know the truth on tax - This has been quite a week for the "do as I say not as I do" school of public policy. Two major public statements within a couple of days of each other, two completely different interpretations of financial transparency - 28th March
  • Budget 2010: reasons to be cheerful - Next Wednesday's Budget is in some regards not the one we should be concerning ourselves with. What's likely to be Alistair Darling's last set piece as Chancellor is still part of the pre-election fiscal phoney war. - 21st March
  • Dotcom bust taught us how to love hi-tech - You wait for ages for an anniversary and then they all come along at once - 14th March
  • Four ways to solve our savings crisis - That ticking sound you can hear is the time bomb of pensioner poverty. No one knows when it will go off, but if we continue on our current reckless trajectory it most certainly will - 28th February
  • Simple investment strategies can be the most deceptive - The investment business works on the "kiss principle" (keep it simple, stupid) -21st February
  • How much should you be risking in the East? - There's an amusing scene in Diner, a wry and touching film about a group of young blue-collar lads in 1950s Baltimore. In it, Mickey Rourke drives out into the Maryland countryside, spies a pretty and obviously rich girl on her horse and asks his friend: "Do you ever think there's something going on out there that we don't know anything about?" - 14th February
  • Seek divergent views for better investment - One of the hallmarks of a successful investor is the desire to seek out people holding diametrically opposed views, to test a conviction against a strongly-held counter-argument - 7th February
  • Eastern promise can't be broken by jitters - It is a tale of three corrections... - 31st January
  • Raise your half-full glass to a positive market - Most people see themselves as glass-half-full or glass-half-empty types. They think their view of the world is consistent. But when we operate in financial markets, our sentiment is constantly fluctuating and heavily influenced by our recent experience. What matters is not so much where we are now as where we have just come from - 24th January
  • Interest rates: the lower the better - There's nothing like buying a house to concentrate the mind on the future path of interest rates - 17th January
  • Retail shares show you why 2010 will be the year for the skilled stock picker - The performance of retail shares over the past week holds a lesson for all those deciding which shares to buy in 2010 - 10th January
  • Investors face a fret, relax and worry cycle - Investors are only rarely granted the luxury of great conviction. Most of the time markets are neither very cheap nor very expensive - 3rd January

Articles: 2009

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