Incrementum Year-End Competition 2025-Edition / Part II

Good Morning Ladies and Gentlemen

” It remains seen how these developments affect future spending and investment.”

Fed Chair Jerome Powell

In his post-meeting press conference, Federal Reserve Chair Jerome Powell recognised the significant level of uncertainty prevailing among American consumers and businesses. He attributed much of this apprehension to the „turmoil“ associated with the Trump administration. This choice of language is particularly noteworthy.

Incrementum Year-End Competition 2025-Edition / Your Input

Ladies and Gentlemen, I sincerely appreciate all the feedback I have received from you. Thank you very much! In addition to the classics like gold, silver, the S&P, and Bitcoin, there were many innovative suggestions. The time has come to update two of our previous favourites and do justice to all the ideas you contributed.

Let’s Go, Pick Number One!

For the Incrementum Year-End Competition 2025, we have chosen to examine the price of silver. I have maintained a bullish stance on silver for over 20 years, although I have felt frustrated for the past 14 years. However, given the economic circumstances unfolding before us, 2025 may be an intriguing year for silver, often regarded as gold’s smaller brother. Thus, our first selection will be silver, currently trading at USD 33.12.

Let’s Go, Pick Number Two!

In examining the potential outcomes of global fiscal stimuli, we find that various Chinese indices present compelling investment opportunities. So, we have identified the Shanghai Composite Index, currently trading at 3’426.43, as our second choice for you to consider.

Let’s Go, Pick Number Three!

Ultimately, interest rates may become an intriguing factor to monitor. Should inflation in the U.S. continue to rise, we can expect a significant impact on interest rates. For this reason, we have selected the 10-year U.S. Treasury note, currently trading at 4.3%, as our third pick.

Your Bets

Ladies and Gentlemen, please send in your bets. As is tradition, the individual whose estimate is nearest to the year-end prices will be awarded a one-ounce silver coin.
The definitive price data will be sourced from https://marktdaten.fuw.ch/.

I extend my best wishes for your endeavours and hope that a new victor will emerge this year (with all due respect to Dario) to claim the prized coin.

Ladies and Gentlemen

As always, please share your opinion with me. Feel free to send your messages to smk@incrementum.li.

Many thanks, indeed!

I wish you an excellent start to the day and weekend!

Yours truly,

Stefan M. Kremeth
CEO & Head of Wealth Management
Incrementum AG – we love managing assets

Tel.: +423 237 26 60
Cell: +41 79 303 48 39
Im alten Riet 153
9494 Schaan/Liechtenstein
Mail: smk@incrementum.li