Aus dem Journal
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In Gold We Trust Report 2026 Chartbook
Der Herbst ist da, und wie jedes Jahr präsentieren wir unser In Gold We Trust Report 2026 Chartbook. Es greift die zentralen Thesen des Reports auf und aktualisiert die wichtigsten Charts mit Daten bis Oktober 2026.
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Follow the Yield, Own the Cash Flow
Good Morning Ladies and Gentlemen “Hyperscalers have already gone free cash flow negative.” The Wall Street Journal You know, Ladies and Gentlemen, I find it extremely difficult to invest on the basis of macroeconomic outlooks. I have found, time and again, that average macroeconomic scenarios fall far short of capturing the complexity of the […]
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The Price of Fear
Good Morning Ladies and Gentlemen “No one cares. That is, no one cares until the bubble begins to burst and then everyone cares, which is exactly how markets crash.” Jesse Felder Last week, I read a very interesting piece by Joe Weisenthal from Bloomberg. You may remember his quote in last week’s “Stefan’s Weekly” […]
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When Reality Presents the Bill
Good Morning Ladies and Gentlemen “So on some level, I think those “blockchain not Bitcoin” guys might’ve had a point, and I shouldn’t have laughed at them as readily as I did.” Joe Weisenthal, Bloomberg Today, I would like to do something slightly different and share a broader collection of thoughts with you. Over […]