The stark contrast between the excitement surrounding everything AI and the depressed state of the biotechnology sector tells a lot about the current polarisation of investor sentiment. Putting the numbers into context, the total value of the biotechnology industry is a mere 'drop in the ocean' $1.5 trillion compared with the $16 billion to $18 trillion market capitalisation of the Magnificent...

Discounts to the value of assets held, and more rarely premiums, are par for the course when it comes to investment trusts. These are best understood as the gap between the share price and the net asset value (NAV). For example, a trust with 100p of assets per share and a 95p share price trades at a 5% discount to NAV. Discounts can give savvy investors the chance to buy assets for less than...

Defensives hold up in sell-offNew appetite for growth stocksBanks unable to shake off lossesAs the dust settles from the three-day 'Liberation Day'-inspired sell-off, the list of winners and losers makes for interesting reading.Not everything which held up during the market meltdown is being sold off, and not everything which racked up big losses is rebounding, unlike in previous recoveries,...