Portfolio manager’s commentary

 

 

Return to fundamentals

Portfolio manager’s commentary  Octobre, 29 2019  Return to fundamentals If we set aside geopolitical considerations which are, by their very nature, unpredictable and currently a source of considerable anxiety, we can analyse recent market developments...

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Trump attacks!

Portfolio manager’s commentary   June 5, 2019   <h1Trump attacks!   As a warmonger would, Donald Trump has opened hostilities, simultaneously leading a trade war (imported goods) and a technological war (intellectual property, patent law). His enemies are clearly...

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Will there be any obstacles in 2019?

Portfolio manager’s commentary  January 15, 2019  Will there be any obstacles in 2019?   Global equities declined sharply in the fourth quarter in many markets, with the S&P index losing 14% in the last quarter and ending the year down 6.2%, and the Eurostoxx...

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The major challenges of the autumn

Portfolio manager’s commentary  September 7, 2018  The major challenges of the autumn   Firstly, renewed tensions in Europe. The monetary crisis in Turkey in August has led to a 45% collapse of the Turkish lira against the euro in 2018. This crisis has taken a...

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Winners and losers

Portfolio manager’s commentary  May 31, 2018  Winners and losers   The luxury sector (LVMH, Kering, and L’Oréal) drove the Parisian index up, placing it at the top of European indices. These companies have benefited from renewed global growth and rising consumption in...

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L’art de maîtriser l’inflation

The art of controlling inflation The stock markets continued their progress until the publication of the employment report in the United States at the end of January. The latter reported an increase in wages that pushed inflation upward. For example, American rates at...

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A summer without spirit

A summer without spirit Three major events punctuated this summer 2017: first, the geopolitical tensions around the North Korean record were vivid around the verbal threats of Kim Jong-Un echoing Donald Trump's tweets. These events resulted in an increase in the VIX,...

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April 2017: The end of a suspense?

The art of controlling inflation The stock markets continued their progression until the publication of the employment report in the United States at the end of January. The latter reported an increase in wages that pushed inflation upward. For example, American rates...

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Spring Scholarship?

Spring Scholarship? The favorable economic environment continued in the first quarter of 2017. The global stock market index thus closes the period up by 4.4% in Euros. The ECB has announced the reduction of the envelope devoted to its purchases of securities, from 80...

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Christmas before the hour?

Christmas before the hour? In pursuing the Trump effect, markets are still in a "Risk on" mode. The Italian referendum, despite the victory of the "no" and the resignation 2 days later of Mattéo Renzi, had a positive effect on the indices through the lifting of this...

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