Global Perspectives 2024 The last quarter of 2023 has ensured another “grand cru” year. Many reasons can be cited for this, but let us focus on the two most important ones. First, US economic growth in the second half of 2023 was much stronger than expected. You should be aware that the companies we invest generate 50% of […] Financial 17.01.2024
Quarterly update – Q3 2023 It might seem to you that not much has happened in the past quarter about our portfolios. Actually, you should not overlook the fact that our portfolios have held up well over this period. Beneath the surface, there have been some developments that could have major consequences and we need to be prepared for them. […] Financial 10.10.2023
Summer Market Update July 2023 There is uncertainty but also opportunity in the financial markets. 1. Your assets are being managed at what is an uncertain time. Geopolitical developments continue to surprise, with the recent developments in Russia being the latest unexpected twist. It is impossible to predict which direction things will go in Ukraine. But even if this might […] Financial 10.07.2023
Quarterly update - Q1 2023 After a difficult 2022, the first quarter of 2023 seemed to have been all set for a recovery in the financial markets. Yet, a couple of weeks ago we received a wake-up call that reminded us of the financial crisis of 2008. Some US banks faced an old-fashioned bank run with deposits being transferred at […] Financial 05.04.2023
Global Perspectives 2023 2022 was an interesting year on financial markets to say the least. Over the years, we have become accustomed to volatility and falling stock prices, partly because the mood of the market verges on the pessimistic every so many years. A crucial event in 2022 that prompted a reversal of sentiment was, of course, Russia’s […] Financial 09.01.2023
How do we protect ourselves against persistent inflation? After some very volatile summer months in the financial markets, we are back to where we were in June. At first glance, not much seems to have changed. The two most important risk-free interest rates are again at their highest level since the beginning of the year. The German 10-year government rate is around 2%, […] Financial 21.10.2022