Interview «The Playing Field for China is Getting Narrower and Narrower» Joerg Wuttke, former President of the EU Chamber of Commerce in China, on the country’s economic prospects, the rising trade conflict with the EU and the question of who Beijing would prefer to see in the White House. Mark Dittli 05.07.2024
Interview «The Failure of Credit Suisse Should Be Causing Sleepless Nights» Paul Tucker, former Deputy Governor of the Bank of England, minces no words in his criticism of the Swiss authorities in dealing with the failure of Credit Suisse. Lessons must be learned from this, he says, both in Switzerland with UBS and in other countries. Mark Dittli 28.06.2024
Interview «Gross returns of 15 to 20% are possible» Pimco President Christian Stracke is deploying capital aggressively into emergency loans for highly indebted companies, often owned by private equity funds. However, he expects cumulative defaults of 15% for speculative grade companies until 2026, which will weigh down global growth. Mark Böschen ✉ 24.06.2024
Interview «The Silver Market is Experiencing a Deficit for the Third Consecutive Year» Michael Steinmann, CEO of the mining group Pan American Silver, talks about the robust growth in demand for the precious metal, declining global inventories as well as the company’s opportunities and challenges when it comes to new mining projects. Christoph Gisiger 14.06.2024
Interview «European Super Majors are more Attractive than their US Rivals» Despite recent record price highs for copper and gold, BlackRock fund manager Alastair Bishop sees strong balance sheets and disciplined investment strategies at natural resources companies. Instead of high-risk projects as in the past, they are now preferring share buybacks. Mark Böschen ✉ vor 4 Stunden
The Stock Market's «Great Paradox» This is the «Great Paradox» of the stock market: What seems expensive and too high usually continues to go higher, and what seems cheap and too low usually continues to go lower. The message is clear: buy high, sell higher. Thierry Borgeat vor 4 Stunden
Interview «Valuation Is Not as Important as Quality» Fund manager Terry Smith, founder and CIO of Fundsmith, consistently favors quality companies. In this interview, he talks about the merits of Novo Nordisk, which of the «Magnificent Seven» stocks he likes, and which shares he would buy – if they were cheaper. Sandro Rosa vor 4 Stunden
European equities are enjoying a 1990s revival Market conditions are reminiscent of the soft landing that followed Alan Greenspan’s Fed pivot. Marina Zavolock 07.05.2024
Interview «Artificial Intelligence Holds a Lot of Potential for the Pharma Sector» Richard Carlyle, Equity Investment Director of US asset management giant Capital Group, on the winners and losers among the «Magnificent Seven» and the advantages of European and Japanese equities. Mark Dittli ✉️ vor 3 Stunden
Interview «China will have no choice but to become more repressive, more closed, colder» In her new book «Wild Ride», China expert Anne Stevenson-Yang argues that China’s experiment with capitalism has failed. In this in-depth interview, she explains why Beijing is now closing the Chinese economy again – and what the consequences are for the financial markets. Christoph Gisiger 01.05.2024
Could the Fed Raise Interest Rates in 2024? Only a few months ago, market participants expected the Fed to cut policy rates significantly in 2024. This expectation has turned out to be wrong. Now investors are anxiously contemplating the question of more rate hikes to come. Stefan Gerlach 29.04.2024
Interview «I Still Think There’s Potential for a Second Step at ABB» David Samra, lead portfolio manager of the Artisan International Value Fund, explains why he believes the Swiss industrial conglomerate could benefit from further reorganization. He also comments on his positions in Holcim, UBS and Richemont – and explains why he is calling for a complete turnover of the Board of Directors at Novartis. Christoph Gisiger 19.04.2024
Why I Love Investing in Unfair Fights Companies can leverage their dominance based on a durable competitive advantage and best-in-class operational efficiency to push weaker competitors out of the market and gain further market share. All in repeat mode. The result? A flywheel effect leading to perpetual growth machines. Thierry Borgeat vor 3 Stunden
«We’re About to Witness a Historic Migration of Capital» Larry McDonald, creator of «The Bear Traps Report» and New York Times best-selling author, talks about his new book. He explains why the financial world will change fundamentally in the coming years and how to prepare your portfolio for a new regime with sticky inflation and colossal commodity shortages. Christoph Gisiger
Overcapacity in China: A Burden for the World Economy and for China Itself Overcapacity in China has been an ongoing theme for more than fifteen years: From steel and cement it has now morphed to green technologies and automobiles. It would be in Beijing's own interest to tackle the problem. Joerg Wuttke
The Demographic Time Bomb Low interest rates and the movement towards passive investing have facilitated a capital surge into equities. Most of these inflows were based on savings from the baby-boomer generation. Given today's attractive yields on bonds, capital flows are likely to reverse – with far-reaching consequences for equity markets. Lawrence G. McDonald
Interview «Gold Has Surprised Market Participants by Being so Resilient» The price of gold is at an all-time high. What are the most important factors driving the market? How do supply and demand relate to each other? And why are central banks buying on a massive scale? Juan Carlos Artigas, Head of Research at the World Gold Council, explains what’s going on. Christoph Gisiger 15.03.2024
The Swiss National Bank Should Lower its Policy Rate The SNB has managed to bring inflation back into the target range. By cutting interest rates at its next policy meeting on March 21, it can help reduce the real overvaluation of the Swiss franc and support the economy’s return to potential growth. Karsten Junius 13.03.2024
Interview «Interest Rates Will Stay Higher for Longer» Torsten Sløk, Chief Economist at Apollo Global Management, is concerned that inflation will heat up again. He expects that central banks will have to keep a hawkish stance and explains the risks for financial markets. Christoph Gisiger 01.03.2024
The Perfect Company Does Not Pay Dividends Dividends are important, but it is necessary to understand the concept. Maximizing your profits does not depend on investing in companies that pay high dividends. The perfect company does not even pay dividends. Why? Because of simple mathematics. Thierry Borgeat vor 49 Minuten
Interview «The Last Mile of the Inflation Fight May Be More Challenging Than People Think» Jim Bianco worries that inflation in the US will remain persistently high given the robust economy. Therefore, the President and Macro Strategist at Bianco Research does not expect the Fed to cut interest rates quickly. In an in-depth interview, he explains where opportunities arise in a more challenging market environment. Christoph Gisiger 19.02.2024
Interview «The Last Mile of the Inflation Fight May Be More Challenging Than People Think» Jim Bianco worries that inflation in the US will remain persistently high given the robust economy. Therefore, the President and Macro Strategist at Bianco Research does not expect the Fed to cut interest rates quickly. In an in-depth interview, he explains where opportunities arise in a more challenging market environment. Christoph Gisiger 19.02.2024
Interview «The Structural Bull Case for Energy is Very Strong» Rajiv Jain, Founder and CIO of Florida-based investment firm GQG Partners, shares his best investment ideas and explains why companies in the semiconductor industry still have enormous potential for profit growth. Mark Dittli vor 2 Stunden
Interview «European Equities Are Incredibly Cheap» Stuart Mitchell, founder and CIO of the British fund boutique S. W. Mitchell Capital, explains why Europe could be rediscovered by investors, where he sees the greatest opportunities and why he recently bought Roche but otherwise steers clear of Swiss stocks. Gregor Mast 16.02.2024
Interview «The Rate Hikes Could Have Done a Lot of Damage Which We Just Can’t See Yet» Christopher Wood, Global Head of Equity Strategy at Jefferies in Hong Kong, sees the risk of a downturn in the US economy and a lack of economic competence in China. He likes individual tech stocks, India, Japan and gold. Mark Dittli 02.02.2024