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Market & Investment Views
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Get insights and commentaries on current market developments and research as well as our permanent views on successful investment strategy.
Q1 2023 The rebound of growth and tech
In the aftermath of dismal year 2022 due to the well known reasons (FED, Ukraine, Covid/supply chains) and of the end of year tax selling we observed a strong reversion…
A simple summary on recent Equity Valuations
The USA, as well as the world, equity markets are at very important crossroads. They are heavily dependent on volatile inflation, interest rate and on earnings prospects. Geopolitical factors and…
Markets in view of Q4 2022 : Can investors endure more losses? Will they be rewarded?
Can investors endure more losses ?
Will they be rewarded ?
Can investors endure more losses ?
Will they be rewarded ?
Can investors endure more losses ?
Will they…
How can this Bear market end ? A summary
The FED missed the inflationary situation calling it for a long time a transient phenomenon. It was a structural one. The war in Ukraine exacerbated the supply shocks in agricultural products…
FED resolution to fight inflation : The short and medium term
A)The expectation of FED chairman Powell speech at Jackson Hole was that it would provide a determination to fight Inflation at the expense of employment and growth. B) The reaction…
Perfect storm and patience
Perfect storm The FED made a major mistake underestimating inflation. Interest rates should have increased earlier. Now it is tightening aggressively. We experience the worst inflation in 40 years. Covid…
May 12, 2022
Inflation and the Supply curve A few thoughts on the markets : Negatives : A) Waited to comment on the April inflation numbers. Higher at 8.3 pct for the CPI than the forecasts…
Market Comment August 2021
The effects of the pandemic on the economy have continued to diminish, but risks to the economic outlook remain. Progress on vaccinations has limited the spread of COVID-19. However, the…
Interest rates and Earnings : March 2021 experience and Tactical Investment ideas
I) The reason growth stocks suffer more with abruptly rising interest rates.
The valuation of every investment should correspond to the present value of future cash flows . If we…
Year 2020 in Retrospect
2020 in retrospect
....It was a very difficult year !
Indeed, it was a very difficult year (to paraphrase the song) for mankind, personal lives, relations, business and the stock market.
Some…
The Virus through our Investment Lenses
Our Specific Experience
In early 2020 we had a unique traumatic experience not seen for over a century : the deadly pandemic of COVID 19. Society, life, the economy and…
Early July 2020 thoughts
A) The stock market started the second half of 2020 strongly as the economies are reopening and medical news are fluctuating.
B) The markets are clearly linked to the COVID-19…
Market Comment May 2020
Don’t bet against America; you can still buy the dip as the market rebounds
History has shown that the SPX has returned to growth after significant drops many times. For…
2019 in Retrospect
A) We noticed the ‘reversion to the mean’ principle. This observation characterizing many natural phenomena took place again in the stock market. After a dismal 2018, especially at the end…
December 2019
A) December 15 is approaching. The decisions and comments on tariffs can lead the Market either higher or substantially lower. Tactically we reduce portfolios Betas
Market Comment Q3 2019
Global equity markets have been strong over the first three quarters of 2019, with the Federal Reserve and other central banks easing policy in a coordinated fashion, and solid macroeconomic…
May 2019-Be fearful when others are greedy
Equity markets rallied strongly in the first part of 2019, with the S&P 500 staging a 26% rally from its low on Christmas Eve to the recent peak on May…