Journal

Mark Justin Valek Ronald Stöferle Stefan Markus Kremeth Incrementum AG Hans G. Schiefen Jeannine Grassinger Dr. Christian Schärer

August 2024

August 5, 2024

Reason / Compounding / 1. of August 1291 / The Paris 2024 Olympics

Good Morning Ladies and Gentlemen “Reason only makes sense in the context of irrationality; it’s not reasonable to always strive for rationality.” from “unknown” to me Compounding in Asset Management The compound interest effect is a powerful strategy that can inspire us to leverage small, seemingly insignificant actions to generate significant gains in […]

August 9, 2024

From Interest Rate Hopes to Recession Fears and Back Again and Some Stats

Good Morning Ladies and Gentlemen “One must beware of ministers who can do nothing without money and those who want to do everything with money.“ Indira Gandhi Interest Hopes Over the past few months, investors have been optimistic about declining interest rates. However, investor sentiment quickly worsened after the recent Fed meeting, during which […]

July 2024

July 12, 2024

U.S. Inflation Expectation / Interest Rate Expectation / UEFA EURO 2024

Good Morning Ladies and Gentlemen “Learning and enjoyment are the secrets to a fulfilled life. Learning without enjoyment hardens. Enjoyment without learning stultifies.” Richard David Precht U.S. Inflation Expectation Inflation in the USA is easing noticeably, fuelling the financial markets’ hopes of an interest rate turnaround in September. Last Friday, weak labour market figures […]

June 2024

June 28, 2024

Bank of America / UEFA EURO 2024

Good Morning Ladies and Gentlemen “Tis not unreasonable for me to prefer the destruction of the whole world to the scratching of my finger.” David Hume Bank of America monthly survey Bank of America (BofA) delivers revealing data from monthly surveys among global fund managers. I like looking at those surveys and seeing these […]