𝙒𝙚 𝙝𝙖𝙙 𝙣𝙚𝙬 𝘼𝙏𝙃𝙨 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙎𝙋𝙓𝟱𝟬𝟬 𝙖𝙣𝙙 𝙩𝙝𝙚 𝘿𝙤𝙬, 𝙬𝙝𝙞𝙡𝙨𝙩 𝙉𝙖𝙨𝙙𝙖𝙦 𝙞𝙨 𝙨𝙩𝙞𝙡𝙡 𝙨𝙩𝙧𝙪𝙜𝙜𝙡𝙞𝙣𝙜 𝙩𝙤 𝙜𝙚𝙩 𝙙𝙚𝙘𝙞𝙨𝙞𝙫𝙚𝙡𝙮 𝙝𝙞𝙜𝙝𝙚𝙧. 𝙃𝙞𝙜𝙝-𝙩𝙚𝙘𝙝 𝙨𝙩𝙤𝙘𝙠 𝙪𝙣𝙙𝙚𝙧𝙥𝙚𝙧𝙛𝙤𝙧𝙢𝙚𝙙 𝙦𝙪𝙞𝙩𝙚 𝙖 𝙗𝙞𝙩 𝙖𝙜𝙖𝙞𝙣. 𝙂𝙤𝙡𝙙 𝙠𝙚𝙚𝙥𝙨 𝙧𝙚𝙜𝙖𝙞𝙣𝙞𝙣𝙜 𝙨𝙩𝙧𝙚𝙣𝙜𝙝𝙩 𝙤𝙛 𝙡𝙖𝙩𝙚, 𝙬𝙝𝙞𝙡𝙨𝙩 𝙧𝙖𝙩𝙚𝙨 𝙖𝙧𝙚 𝙧𝙚𝙡𝙖𝙩𝙞𝙫𝙚𝙡𝙮 𝙨𝙩𝙖𝙗𝙡𝙚. Value is the word lately, as the economy reopens and restrictions are being lifted around the world, vaccinations…
𝙑𝙚𝙧𝙮 𝙡𝙤𝙬 𝙫𝙤𝙡𝙖𝙩𝙞𝙡𝙞𝙩𝙮 𝙖𝙜𝙖𝙞𝙣 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠. 𝙀𝙦𝙪𝙞𝙩𝙮 𝙞𝙣𝙙𝙞𝙘𝙚𝙨 𝙝𝙤𝙫𝙚𝙧 𝙖𝙧𝙤𝙪𝙣𝙙 𝘼𝙏𝙃𝙨. 𝙏𝙝𝙚 𝙮𝙞𝙡𝙚𝙙 𝙘𝙪𝙧𝙫𝙚𝙨 𝙨𝙩𝙚𝙚𝙥𝙚𝙣𝙙 𝙞𝙣 𝙜𝙚𝙣𝙚𝙧𝙖𝙡, 𝙚𝙨𝙥𝙚𝙘𝙞𝙖𝙡𝙡𝙮 𝙤𝙪𝙩𝙨𝙞𝙙𝙚 𝙐𝙎, 𝙤𝙣 𝙝𝙞𝙜𝙝𝙚𝙧 𝙩𝙝𝙖𝙣 𝙚𝙭𝙥𝙚𝙘𝙩𝙚𝙙 𝘾𝙋𝙄 𝙧𝙚𝙖𝙙𝙞𝙣𝙜𝙨 𝙖𝙘𝙧𝙤𝙨𝙨 𝙀𝙪𝙧𝙤𝙥𝙚. April turned out to be a good month in general. $SPX500 is up 5% this month. Will the “sell in May and go away” good old saying…
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…
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 we use. Let’s quickly remind what SIAScore is and how the process goes: S1: growing sector 1pts/0pts, S2: incumbent or prospective global leader…
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 we use. Let’s quickly remind what SIAScore is and how the process : S1: growing sector 1pts/0pts, S2: incumbent or prospective global leader…
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 we use. Let’s quickly remind what SIAScore is and how the process : S1: growing sector 1pts/0pts, S2: incumbent or prospective global leader…
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…
