Following our weekly meeting, we therefore wait to strengthen our position in Europe. “Net equity exposure” of the Global Strategy fund is currently 26.50%.
We have decided to stay on convictions expressed in our last committee (October 2nd). We think the rally of recent days is due to hot money speculating on the intervention of central banks. The Fed is expected to keep its rates near zero and Mr Draghi should do “something”, but it is not clear what. […]
September saw a continuation of recent trends that have made the last few months a very turbulent period for investors. The adage “Sell in May and go away” was confirmed for this year 2015! The key element of September was the decision of Mrs. Yellen to postpone the interest rates hike because of the FED’s concerns about […]
Global equities extended their decline in September (MSCI AC World -3.80% in dollar terms). A slight rebound from August trough proved to be short-lived after the Fed decided to delay the first interest rate hike, citing worries about the global economy and sluggish inflation at home. Although Fed Chair Yellen left the door open for […]