Forecasting where the stock market will be heading is becoming increasingly tricky. There are convincing arguments in either direction. While the “healthy correction consensus” among investors has been proven wrong for a while, volatility has increased considerably during the past weeks, courtesy of the earnings season. On the geopolitical front, Donald Trump visited China to hopefully finalize a trade deal with President Xi Jinping. The most meaningful terms were the suspens

Equity markets once again were able to defy September’s seasonality of weak performance and traded up, making it the sixth month up in a row for the MSCI World Index. The Nasdaq 100 is doing the same, raising the voices of the “Bubble Gospel Choir” once more. From our point of view, as mentioned in the previous monthly report, the market could well be in a bubble. But the important question is: in what stage are we currently trading? If we look at statistics, scanning previou

On 1 September 2025 Alexander von der Vellen’s book “Trust – The Skill of Trusteeship in 16 Success Stories and 1 Failure”, co-authored...

It’s important to think in terms of decades, not months. It’s also essential to get the big picture right. Communicating every month is a...

The past month was characterized by investors being underweight equities and having to chase the stock market, which continued to trade...

The past month was dominated once again by a stellar performance of the technology sector, driven by a 16.62% rise in the semiconductor...