Journal
July 2022
June 2022
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Finally
Good Morning Ladies and Gentlemen After Wednesday’s Fed meeting, hope germinated for a temporary end to the wave of selling on the financial markets. On Thursday, the tender plant of this budding hope was destroyed by the interest rate hike by the Swiss National Bank. Falling Financial Markets Few people are happy about falling financial […]
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Peak Pessimism
Good Morning Ladies and Gentlemen How much pessimism is priced in? If only I knew, you might think. So do I! I do not know if the market is clean, the crash is over, and a less volatile period lies ahead of us; however, one thing I know is that fear is not of great […]
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Because we are bad at predicting the future
Good Morning Ladies and Gentlemen On Sunday June 19, 2022 I sent one of my regular updates to our private clients. I feel like sharing it with you. Enjoy the read: “Dear customers Last week, our portfolios also suffered from the financial market slumping. The German stock index DAX stands at -18% for the current […]
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Arbitrary Designation
Good Morning Ladies and Gentlemen I receive a fair amount of messages from people asking me if the «crash» will continue or if this was it and I think my last Stefan’s weekly on “peak pessimism” triggered some additional messages in this respect. So now, Ladies and Gentlemen, thank you very much for writing to […]