News & Insight Weekly Newsletters

05 August 2022 | William Buckhurst

That Was The Week That Was


  • The Bank of England raised rates by 0.5%, its single largest increase since 1995, while outlining an incredibly gloomy economic forecast
  • US House Secretary, Nancy Pelosi, visited Taiwan triggering a number of military operations by China around the island


  • Novo Nordisk overall revenues were in line with consensus but slower sales from its obesity drug Wegovy sparked a sell-off in the share price
  • Zimmer Biomet revenues were ahead of analysts’ expectations with both knee and hip operations recovering
  • Paypal showed net revenues growing 10% and free cash flow up 22%
  • Toyota shares fell as it posted a large drop in quarterly earnings with a 42% year-on-year decline in operating profit


Purplebricks, the UK’s biggest online estate agent, revealed in delayed results that it had swung to a loss and was unlikely to be profitable again until 2024. New CEO, Helena Marston, said that financial performance had been hit by a new operating model whereby agents have been brought in house and are no longer self-employed. The shares have lost around 80% of their value over the last year


1995: Westinghouse agrees to buy CBS for $5.4bn, five years later it is sold to Viacom for $35.6bn

2018: Apple becomes the first company with a $1trillion market cap (up around 40,000% from its IPO in 1980)


The return of the meme stocks? Hong Kong based but US listed AMTD Digital has risen more than 14,000% since it’s IPO, and this week briefly overtook Alibaba’s New York stock market valuation.  AMTD’s ticker HKD was one of the most mentioned on Reddit’s WallStreetBets chatroom over the last few days. Meanwhile Michael Burry of Big Short fame tweeted that “the silliness is back”…


% returns

1 Week

1 Month

1 Year

5 Years

UK Equities (% return)





World Equities (% return)





10 Year US Treasury Yield (%)





GBP / USD (fx rate)





 As at 5th August 2022. Source: Financial Express



This publication has been produced by Vermeer Investment Management Limited (VIM) trading as Vermeer Partners. It is provided for information purposes only. VIM makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to any data included in this publication. VIM will not treat unauthorised recipients of this publication as its clients. Prices shown are indicative and VIM is not offering to buy or sell or soliciting offers to buy or sell any financial instrument.


Without limiting any of the foregoing and to the extent permitted by law, in no event shall VIM, nor any of its officers, directors, partners, or employees, have any liability for (a) any special, punitive, indirect, or consequential damages; or (b) any lost profits, lost revenue, loss of anticipated savings or loss of opportunity or other financial loss, even if notified of the possibility of such damages, arising from any use of this publication or its contents. Other than disclosures relating to VIM, the information contained in this publication has been obtained from sources that VIM believes to be reliable, but VIM does not represent or warrant that it is accurate or complete. VIM is not responsible for, and makes no warranties whatsoever as to, the content of any third-party website referred to herein or accessed via a hyperlink in this publication and such information is not incorporated by reference. The views in this publication are those of the author(s) and are subject to change. VIM has no obligation to update its opinions or the information in this publication. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the client who receives it. Any securities discussed herein may not be suitable for all investors. VIM recommends that investors independently evaluate each issuer, security or instrument discussed herein and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. This material has been issued and approved for distribution in the UK by VIM. ©2022 Vermeer Investment Management Limited. All rights reserved. No part of this publication may be reproduced or redistributed in any manner without the prior written permission of VIM. VIM is authorised and regulated by the Financial Conduct Authority (FRN: 710280) and is incorporated in England and Wales (company number: 09081916).

Back to News & Insights