Introduction - start here!!!

Well, as most of you know, I invest in the stockmarket, spend a lot of time reading financial news and information, and I generally enjoy the whole process of investing and following the movements in the financial markets. Some of you have asked me about my views on the market, whether it's a good idea to invest in the stockmarket or not, whether now is a good time to buy or sell shares, what kind of shares I own, etc. And most of the time, my answer to these questions tends to be brief and rather vague. I'm always a bit wary about answering such questions. That's not because I don't want to share my views with you, but because answering any of these questions fully would take a very long time, and I'm not sure I can answer any of them properly as part of a casual conversation over lunch or over the phone in the evening. Is it a good idea to invest in the stockmarket? Well, this probably depends on your personal circumstances, your financial objectives, attitude to risk, investment horizon, whether you might need to access your funds over the next few years, and hundreds of other things. Is now a good time to invest? Again, this depends on hundreds of different factors, most of which are extremely difficult to predict with any degree of certainty. For example, how is the global economy going to perform over the next few years? I've got some views on the issue, but I don't feel comfortable with you risking your money based on my personal views on the outlook for the world economy. What shares do I own? Well, I don't really want to give you a random list of shares I own without explaining to you a little bit about the background of how and why I have chosen these particular shares, the risks associated with them, etc.

But because I do enjoy following the markets, and discussing my views on stocks and shares, the oil price, the prospects of the world economy, etc. I decided to start this blog and start writing about some of my views on all of these issues. I should probably warn you that if you are not interested in stockmarket investments, you will probably not enjoy this blog. I may at some point start another blog to keep you up to date with my personal news, but at the moment all you'll find here is discussions on the markets, stocks and shares, etc.

Now before we go any further, I need to make something very clear. This blog is for general information only, and is NOT intended to provide investment advice. I'm discussing my own personal views, and am not advising you to make (or not to make) any investment decisions based on what I've written. The blog is potentially being viewed by several different people, who may have very different financial needs and objectives, so any views expressed here may not correspond to you. I cannot guarantee the accuracy of the information contained in this blog, and such information may no longer be up to date by the time you read it. Your capital is at risk when you invest in shares, and you may get back less than the amount you originally invested. You should do your own research and seek advice from a qualified financial advisor before making any investment decisions. I accept no liability for any loss that you may suffer as a result of any investment decisions that you make. In summary, you should not rely on this blog to make (or not to make) any investment or other decisions.

So bearing all of this in mind, in the next two articles I'll discuss

• My general opinion on the state of the world economy, future prospects, and prospects for company earnings
• My general investment strategy, together with an investment portfolio that is meant to demonstrate how I use this strategy in practice (this document was written in July 2008, and the portfolio was made up entirely of shares I owned at the time)