𝘼 𝙨𝙡𝙞𝙜𝙝𝙩𝙡𝙮 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙫𝙚 𝙬𝙚𝙚𝙠 𝙞𝙨 𝙗𝙚𝙝𝙞𝙣𝙙 𝙪𝙨 𝙤𝙣 𝙚𝙦𝙪𝙞𝙩𝙮 𝙢𝙖𝙧𝙠𝙚𝙩𝙨. 𝘾𝙤𝙢𝙢𝙤𝙙𝙞𝙩𝙞𝙚𝙨 𝙬𝙚𝙧𝙚 𝙨𝙩𝙖𝙗𝙡𝙚 𝙖𝙣𝙙 𝙨𝙤 𝙬𝙚𝙧𝙚 𝙩𝙝𝙚 𝙮𝙞𝙚𝙡𝙙𝙨 𝙤𝙣 𝙢𝙖𝙟𝙤𝙧 𝙜𝙤𝙫𝙚𝙧𝙣𝙢𝙚𝙣𝙩 𝙞𝙨𝙨𝙪𝙚𝙨 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠. 𝙏𝙝𝙚 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙚𝙚𝙢𝙨 𝙩𝙤 𝙝𝙖𝙫𝙚 𝙢𝙖𝙞𝙣𝙮 𝙗𝙚𝙚𝙣 𝙛𝙤𝙘𝙪𝙨𝙞𝙣𝙜 𝙤𝙣 𝙙𝙞𝙜𝙚𝙨𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝟭𝙌𝟮𝟭 𝙣𝙪𝙢𝙗𝙚𝙧𝙨. What’s notable is that the market seems a little tired. There’s been quite a few positive earnings surprises,…
𝗧𝗵𝗲 𝗲𝗾𝘂𝗶𝘁𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗲𝗻𝘁𝗲𝗿𝗲𝗱 𝘁𝗵𝗲 𝟭𝗤𝟮𝟭 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝘀𝗲𝗮𝘀𝗼𝗻. 𝗦𝗼 𝗳𝗮𝗿 𝗺𝗮𝗷𝗼𝗿 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘀𝘂𝗿𝗽𝗿𝗶𝘀𝗲𝗱 𝘁𝗼 𝘁𝗵𝗲 𝘂𝗽𝘀𝗶𝗱𝗲, 𝘄𝗵𝗶𝗰𝗵 𝗰𝗹𝗲𝗮𝗿𝗹𝘆 𝗽𝘂𝘁𝘀 𝗮 𝗯𝗶𝗱 𝘁𝗼 𝘁𝗵𝗲 𝗶𝗻𝗱𝗶𝗰𝗲𝘀. 𝗥𝗮𝘁𝗲𝘀 𝘀𝘁𝗮𝗯𝗶𝗹𝗶𝘇𝗲𝗱 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 𝗹𝗲𝘃𝗲𝗹 𝗼𝗳 𝗿𝗶𝘀𝗸-𝗳𝗿𝗲𝗲 𝗿𝗮𝘁𝗲 𝗶𝘀 𝗻𝗼𝘄 𝗺𝗼𝘀𝘁𝗹𝘆 𝗽𝗿𝗶𝗰𝗲𝗱 𝗶𝗻. Also the major asset classes correlations are slowly coming back to normality, after the turmoil caused by…
𝘼𝙣𝙤𝙩𝙝𝙚𝙧 𝙨𝙩𝙧𝙤𝙣𝙜 𝙬𝙚𝙚𝙠 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙐𝙎 𝙚𝙦𝙪𝙞𝙩𝙞𝙚𝙨 𝙞𝙨 𝙗𝙚𝙝𝙞𝙣𝙙 𝙪𝙨. 𝙐𝙎 𝙖𝙡𝙨𝙤 𝙘𝙡𝙚𝙖𝙧𝙡𝙮 𝙤𝙪𝙩𝙥𝙚𝙧𝙛𝙤𝙧𝙢𝙚𝙙 𝙤𝙩𝙝𝙚𝙧 𝙢𝙖𝙟𝙤𝙧 𝙢𝙖𝙧𝙠𝙚𝙩𝙨 (𝙀𝙐 𝙖𝙣𝙙 𝙅𝙖𝙥𝙖𝙣), 𝙥𝙡𝙪𝙨 𝙂𝙧𝙤𝙬𝙝𝙩 𝙠𝙚𝙥𝙩 𝙢𝙖𝙠𝙞𝙣𝙜 𝙞𝙩𝙨 𝙘𝙤𝙢𝙚𝙗𝙖𝙘𝙠 𝙫𝙨. 𝙑𝙖𝙡𝙪𝙚. 𝙍𝙚𝙥𝙤𝙧𝙩𝙞𝙣𝙜 𝙨𝙚𝙖𝙨𝙤𝙣 𝙛𝙤𝙧 𝟭𝙌𝟮𝟭 𝙨𝙩𝙖𝙧𝙩𝙨 𝙣𝙚𝙭𝙩 𝙬𝙚𝙚𝙠, 𝙨𝙤 𝙩𝙝𝙚 𝙚𝙢𝙥𝙝𝙖𝙨𝙞𝙨 𝙨𝙝𝙤𝙪𝙡𝙙 𝙨𝙬𝙞𝙣𝙜 𝙛𝙧𝙤𝙢 𝙢𝙖𝙘𝙧𝙤 𝙩𝙤 𝙢𝙞𝙘𝙧𝙤. The US treasury yield found their temporary level up here around…
𝘼𝙨 𝙩𝙝𝙚 𝙮𝙞𝙚𝙡𝙙𝙨 𝙘𝙖𝙡𝙢 𝙙𝙤𝙬𝙣, 𝙩𝙝𝙚 𝙚𝙦𝙪𝙞𝙩𝙮 𝙢𝙖𝙧𝙠𝙚𝙩𝙨 𝙣𝙖𝙩𝙪𝙧𝙖𝙡𝙡𝙮 𝙧𝙚𝙨𝙩𝙤𝙧𝙚 𝙩𝙝𝙚𝙞𝙧 𝙜𝙧𝙤𝙬𝙩𝙝 𝙩𝙧𝙖𝙟𝙚𝙘𝙩𝙤𝙧𝙮. 𝘼 𝙨𝙝𝙤𝙧𝙩𝙚𝙧 𝙬𝙚𝙚𝙠 𝙞𝙨 𝙗𝙚𝙝𝙞𝙣𝙙 𝙪𝙨, 𝙖𝙨 𝙢𝙤𝙨𝙩 𝙢𝙖𝙧𝙠𝙚𝙩𝙨 𝙬𝙚𝙧𝙚 𝙘𝙡𝙤𝙨𝙚𝙙 𝙤𝙣 𝙁𝙧𝙞𝙙𝙖𝙮 𝙛𝙤𝙧 𝙀𝙖𝙨𝙩𝙚𝙧 𝙝𝙤𝙡𝙞𝙙𝙖𝙮 𝙨𝙚𝙖𝙨𝙤𝙣. 𝙂𝙧𝙤𝙬𝙩𝙝 𝙧𝙚𝙜𝙖𝙞𝙣𝙚𝙙 𝙢𝙤𝙢𝙚𝙣𝙩𝙪𝙢 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠. Both $DJ30 and $SPX500 made new ATHs this week with the latter having trespassed the psychological 4000 pts. level. Best…
𝗔 𝗰𝗮𝗹𝗺𝗲𝗿 𝘄𝗲𝗲𝗸 𝗯𝗲𝗵𝗶𝗻𝗱 𝘂𝘀 𝘄𝗶𝘁𝗵 𝗺𝘂𝗰𝗵 𝗹𝗲𝘀𝘀 𝘀𝘄𝗶𝗻𝗴𝘀 𝗮𝗻𝗱 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆. 𝗠𝗮𝗶𝗻 𝗶𝗻𝗱𝗶𝗰𝗲𝘀 𝘀𝘁𝗮𝘆𝗲𝗱 𝘄𝗶𝘁𝗵𝗶𝗻 𝗮 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲𝗹𝘆 𝗻𝗮𝗿𝗿𝗼𝘄 𝗿𝗮𝗻𝗴𝗲 𝗼𝗱 𝗮𝗽𝗽𝗿𝗼𝘅𝗶𝗺𝗮𝘁𝗲𝗹𝘆 𝟮%. 𝗖𝗹𝗶𝗺𝗯𝗶𝗻𝗴 𝟭𝟬𝗬 𝗿𝗮𝘁𝗲𝘀 𝗿𝗼𝗶𝗹𝗲𝗱 𝗵𝗶𝗴𝗵 𝘁𝗲𝗰𝗵 𝘀𝘁𝗼𝗰𝗸𝘀 𝗮𝗴𝗮𝗶𝗻. The $SPX500 managed to tip a new ATH and so Did the $DJ30, whilst $NSDQ100 still suffers from higher cost of capital. The 10Y treasury…
Dear Followers&Copiers, Another Financial Year (FY) has passed, the reporting season is over and it’s time to update the equity portfolio of the Global Leaders Portfolio (GLP) in terms of the SIAScore $SQ we use. Let’s quickly remind what SIAScore is and how the process : S1: growing sector 1pts/0pts, S2: incumbent or prospective global…
Dear Followers&Copiers, Another Financial Year (FY) has passed, the reporting season is over and it’s time to update the equity portfolio of the Global Leaders Portfolio (GLP) in terms of the SIAScore system we use. Let’s quickly remind what SIAScore is and how the process : S1: growing sector 1pts/0pts, S2: incumbent or prospective global…
𝙏𝙝𝙚 𝙚𝙦𝙪𝙞𝙩𝙞𝙚𝙨 𝙘𝙖𝙢𝙚 𝙗𝙖𝙘𝙠 𝙧𝙤𝙖𝙧𝙞𝙣𝙜 𝙝𝙞𝙜𝙝𝙚𝙧 𝙡𝙖𝙨𝙩 𝙬𝙚𝙚𝙠, 𝙖𝙨 𝙩𝙝𝙚 𝙢𝙖𝙧𝙠𝙚𝙩 𝙞𝙨 𝙣𝙤𝙬 𝙢𝙤𝙧𝙚 𝙞𝙜𝙣𝙤𝙧𝙖𝙣𝙩 𝙬𝙞𝙩𝙝 𝙝𝙞𝙜𝙝𝙚𝙧 𝙮𝙞𝙚𝙡𝙙𝙨 𝙖𝙣𝙙 𝙨𝙚𝙚𝙢𝙨 𝙩𝙤 𝙗𝙚 𝙩𝙖𝙠𝙞𝙣𝙜 𝙞𝙩 𝙖𝙨 𝙖 𝙣𝙚𝙬 𝙣𝙤𝙧𝙢𝙖𝙡 𝙙𝙪𝙚 𝙩𝙤 𝙝𝙞𝙜𝙝𝙚𝙧 𝙜𝙧𝙤𝙬𝙩𝙝 𝙥𝙧𝙤𝙨𝙥𝙚𝙘𝙩𝙨. 𝙃𝙞-𝙏𝙚𝙘𝙝 𝙨𝙩𝙤𝙘𝙠𝙨 𝙨𝙩𝙞𝙡𝙡 𝙪𝙣𝙙𝙚𝙧𝙥𝙚𝙧𝙛𝙤𝙧𝙢. The $SPX500 and the $DJ30 managed even to make new all-time highs with the latter beeing the absolute…
𝙏𝙝𝙚 𝙫𝙤𝙡𝙖𝙩𝙞𝙡𝙞𝙩𝙮 𝙧𝙚𝙢𝙖𝙞𝙣𝙨 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚𝙙, 𝙚𝙨𝙥𝙚𝙘𝙞𝙖𝙡𝙡𝙮 𝙞𝙣 𝙩𝙝𝙚 𝙝𝙞𝙜𝙝-𝙩𝙚𝙘𝙝 𝙨𝙩𝙤𝙘𝙠𝙨. 𝙏𝙝𝙚 𝙧𝙚𝙥𝙧𝙞𝙘𝙞𝙣𝙜 𝙤𝙛 𝙩𝙝𝙚 𝙘𝙤𝙨𝙩 𝙤𝙛 𝙚𝙦𝙪𝙞𝙩𝙮 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙚𝙨. 𝙏𝙝𝙚 𝘿𝙤𝙡𝙡𝙖𝙧 𝙬𝙖𝙨 𝙩𝙝𝙚 𝙢𝙖𝙞𝙣 𝙨𝙩𝙖𝙧 𝙤𝙛 𝙩𝙝𝙚 𝙬𝙚𝙚𝙠. This week the $USDOLLAR index (DXY) rose as much as 1,2%. The US currency strengthened against all major currencies, as a consequence of the dynamic yield curve steepening. US…
𝙒𝙚 𝙟𝙪𝙨𝙩 𝙛𝙞𝙣𝙞𝙨𝙝𝙚𝙙 𝙖𝙣𝙤𝙩𝙝𝙚𝙧 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙫𝙚 𝙖𝙣𝙙 𝙩𝙝𝙞𝙨 𝙩𝙞𝙢𝙚 𝙖𝙡𝙨𝙤 𝙢𝙤𝙧𝙚 𝙫𝙤𝙡𝙖𝙩𝙞𝙡𝙚 𝙬𝙚𝙚𝙠. 𝙏𝙚𝙘𝙝 𝙨𝙩𝙤𝙘𝙠𝙨 𝙩𝙤𝙤𝙠 𝙩𝙝𝙚 𝙢𝙖𝙞𝙣 𝙝𝙞𝙩, 𝙖𝙨 𝙖𝙣 𝙚𝙛𝙛𝙚𝙘𝙩 𝙤𝙛 𝙧𝙞𝙨𝙞𝙣𝙜 𝙏𝙧𝙚𝙖𝙨𝙪𝙧𝙮 𝙮𝙞𝙚𝙡𝙙𝙨. 𝟭𝟬𝙔 𝙮𝙞𝙚𝙡𝙙 𝙞𝙨 𝙣𝙤𝙬 𝙖𝙩 𝙤𝙧 𝙖𝙗𝙤𝙫𝙚 𝙩𝙝𝙚 𝙙𝙞𝙫𝙞𝙙𝙚𝙣𝙙 𝙮𝙞𝙚𝙡𝙙 𝙤𝙣 $𝙎𝙋𝙓𝟱𝟬𝟬 . 𝘼𝙡𝙡 𝙢𝙖𝙞𝙣 𝙩𝙧𝙖𝙙𝙞𝙩𝙞𝙤𝙣𝙖𝙡 𝙖𝙨𝙨𝙚𝙩 𝙘𝙡𝙖𝙨𝙨𝙚𝙨 𝙬𝙚𝙧𝙚 𝙙𝙤𝙬𝙣 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠, 𝙬𝙝𝙞𝙘𝙝 𝙞𝙨 𝙥𝙧𝙚𝙩𝙩𝙮 𝙪𝙣𝙪𝙨𝙪𝙖𝙡. The repricing of cost…
