The completion of the first quarter of 2024 marks the end of a strong quarter on the stock markets. The MSCI World Total Return gained +8.9% (in USD), the DAX +10.4% (in EUR) and the SMI +5.3% (in CHF). But how can that be?
Read MoreThe Prio Partners Investment Commentary is published every 6-8 weeks. With independent analyses and straightforward language, the Investment Commentary is intended to encourage reflection on current events and to think outside the box.
IC No. 35 – Outlook of the Outlooks
Every year, we summarise the annual outlooks of selected financial institutions and give our clients and partners what they can’t buy: Time. In our IC No. 35 – “Outlook of the outlooks 2024”, the topics shown graphically according to frequency and importance indicate the market consensus.
Read MoreIC No. 34 – Tactical Portfolio Management
Throughout history, humans have sought to predict the future to ensure planning security and efficient resource allocation. While forecasting is effective in certain domains like weather, its accuracy declines over longer timeframes. Predicting financial market conditions with high precision is an ideal goal, but it’s important to acknowledge that such accuracy remains elusive.
Read MoreIC No. 33 – The noise of the trees
One of the advantages of capital markets is that investors can participate in the world’s best companies with the click of a button. However, with a wide range of options comes the dilemma of choice. Where does it make sense to invest, and where should one refrain?
Read MoreIC No. 32 – Déjà-vu?
The sale of Credit Suisse to UBS by emergency law on Sunday, March 19, 2023, marks the end of the 166-year history of Switzerland’s second-largest bank.
Read MoreIC No. 31 – Outlook of the outlooks
In the last outlook for 2022, some developments tended to be estimated correctly, but the risks were underestimated. This picture looks different for the 2023 outlook. Our summary of the top 10 topics from a diverse mix of banks and asset managers shows a much more cautious approach.
Read MoreIC No. 30 – Wrap up warmly
In Europe, we have to wrap up warmly in many respects. Not only in terms of energy bottlenecks, but also with regard to bad corporate news and longer-term consequences.
Read MoreIC No. 29 – Don’t fight the FED
We have never boxed before, but we do understand a few simple basic rules: if possible, do not box against stronger opponents. Pace yourself. Keep your guard up in difficult phases. Keep moving and don’t let yourself be pushed into a corner.
Read MoreIC No. 28 – In shock
We are all shocked. The situation in Ukraine is so unbelievably terrible, the war so inhumane. In a way, the feeling of being paralysed by shock has also transferred to the stock market and investors.
Read MoreIC No. 27 – Beauty and the Beast
The stock markets of the last few years can be summarized briefly. Cheap money, low-interest rates, companies with record profits, no alternative to shares and, when in doubt, the central banks intervene. The result is an impressive price development over the last decades, exemplified by the US stock markets.
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