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Strategy Update 1th Quarter 2022

Strategy Update 1th Quarter 2022

04/05/2022 – When politics or ideologies and no longer economic facts or rational economic thinking dominate the markets, things get difficult. A longer-term investment horizon and a clear assessment of one’s own risk capacity are then indispensable. Investors repeatedly make the mistake of buying or selling stocks pro-cyclically. Timing is quite difficult. Panic and greed are bad advisors. With regard…

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Strategy Update 4th Quarter 2021

Strategy Update 4th Quarter 2021

01/05/2022 – The year 2021 was dominated by the start-up of vaccination programs, fiscal aid packages, still very loose central bank policies, and strong earnings growth. These factors led to an extremely pleasing year for equities, with earnings momentum slowing in the second half of the year. From September onwards, fears of interest rate hikes, very high inflation and new…

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Strategy Update 3nd Quarter 2021

Strategy Update 3nd Quarter 2021

09/30/2021 – We continue to favor equities over bonds and supplement with alternative investments that have little or no correlation to equities and interest rates. This includes crypto investments but also diversification into good hedge funds (where allowed), which help to reduce downside risks and somewhat smooth portfolio performance. In equities, we build on future themes, quality and market leadership…

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Strategy Update 2nd Quarter 2021

Strategy Update 2nd Quarter 2021

06/30/2021 – Almost all stock indices realized new highs in June; that applies to the S&P 500, the Nasdaq, the DAX and the SMI. It was the best 1st semester in 20 years. While the European markets clearly lagged the technology-heavy US markets last year, the situation was different this year. European stocks were able to start from a lower base…

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