Alasdair Macleod

Alasdair became a stockbroker in 1970 and a Member of the London Stock Exchange in 1974. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. After 27 years in the City, Alasdair moved to Guernsey. He worked as a consultant at many offshore institutions and was an Executive Director at an offshore bank in Guernsey and Jersey.

Articles by Alasdair Macleod

The world of finance and investment, as always, faces many uncertainties. The US economy is booming, say some, and others warn that money supply growth has slowed, raising fears of impending deflation. We fret about the banks, with a well-...
The world of finance and investment, as always, faces many uncertainties. The US economy is booming, say some, and others warn that money supply growth has slowed, raising fears of impending deflation. We fret about the banks, with a well-...
To understand the consequences of the credit cycle, we must dismiss pure opinion, and examine the evidence rationally. This article assesses the fate of the dollar on the next credit crisis, a subject of increasing topicality. It concludes...
The Western media was incredulous. The Donald had disregarded diplomacy, scuttled out of the G7 meeting in Canada without endorsing the G7 agreement, and ended up shaking hands with a previously avowed enemy in Singapore. The formally...
Most of us are aware of the inflationary pressures in the major economies, which so far are proving somewhat latent in the non-financial sector. But some central banks are on the alert as well, notably the Federal Reserve Board, which has...
It seems extraordinary that in defiance of all factual history and philosophical knowledge anyone should celebrate the bicentenary of the birth of Karl Marx. More than anyone, through wrong-headed ideas, he bears responsibility, indirectly...
Artificial intelligence (AI) is seen as both a boon and a threat. It uses our personal data to influence our lives without our realising it. It is used by social media to draw our attention to things we are interested in buying, and by our...
The debates about Brexit and President Trump’s trade machinations have demonstrated the blindness of otherwise intelligent people to the Law of Comparative Advantage. Let me attempt a contemporary definition:

“The Law of Comparative...
 “Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.” 
― Ludwig von Mises, The Theory of Money and Credit

It is hardly...
The measure of a man's real character is what he would do if he knew he would never be found out. Lord Macaulay wrote this nearly two hundred years ago. His aphorism is particularly apposite of modern politicians, and also of the modern...

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Most silver is produced as a byproduct of copper, gold, lead and zinc refining.