KI und Investieren: die Kernrolle von Daten
Kurz gefasst ChatGPT und das dadurch ausgelöste Interesse sind der jüngste Schritt auf dem weiten Feld der künstlichen Intelligenz, das eine lange und wechselvolle Geschichte hinter sich hat. Generative KI ist sehr vielversprechend, aber die derzeitige Generation von Modellen birgt erhebliche Herausforderungen für den Einsatz bei Investitionen. Während sich dieser Bereich weiterentwickelt, arbeiten wir bei […]
Your Questions Answered: Asia ex-Japan
China stocks are ‘cheap’ and are your biggest overweight, yet many investors are shunning the region. What will lead to a sustained rally in Chinese equities? If you’re looking for a sustained rally, a lot of people are waiting for two things to happen. One is signs of the bottoming out of the property market, […]
Does the Fed play dice with the financial system?
God does not play dice with the universe, according to Einstein, but, if he did, the outcome would look something like the chart below – only with somewhere between a vigintillion and acentillion of different particles to rearrange instead of two, six-sided die. Chart 1: Towards entropy Source: Entropy (gsu.edu) The double-die example (as opposed […]
Our outlook for India: The view from the GEMs desk
The excitement about India has resulted in rich valuations. How are you thinking about the valuation of Indian markets and how are you positioned? On valuations, with any metric we look at, the Indian market does screen to be expensive – but we have to think about why investors pay a premium for India, and […]
Das Gesundheitswesen von heute, Innovationen für morgen
Auf den Punkt gebracht: Der Gesundheitssektor wird aufgrund des anhaltenden Bevölkerungswachstums, höherer Lebenserwartung, verbessertem Zugang, sowie kontinuierlicher Innovation und gestiegener Kaufkraft von Privatpersonen und Institutionen weiter wachsen. Biowissenschaftsunternehmen wie Vertragshersteller und -entwickler (CDMOs) und Anbieter von Produkten für das Gesundheitswesen profitieren nicht nur von diesem strukturellen Wachstum, sondern sind auch gut aufgestellt, um einen Nutzen […]
World Oceans Day: It’s time to take action
However, following centuries of treating the oceans as an inexhaustible resource, at least a third of fish stocks are depleted.1 Meanwhile microplastic pollution has become endemic, with potentially dangerous consequences for human health. In recognition of World Oceans Day last Saturday, in this article we explore the key threats to ocean health, the issues most […]
Surprise election result rattles Indian stocks
market snapshot
Adapting to a shifting liquidity backdrop
UK inflation fell to 2.3% in April, its lowest level in almost three years and just shy of the Bank of England’s (BoE) target of 2%. The news may have helped spur Prime Minister Rishi Sunak into calling a surprise July election but the higher-than-expected figure – many economists forecast 2.1% – has dampened hopes […]
Filling the pool again
Summer doesn’t officially start until 21 June, but Memorial Day in the US marks the opening of public pools. That means municipalities were filling them in May with the clear, shimmering water that beckons children from coast to coast. Liquidity vehicles experienced their own flows in May (you probably knew I was headed in this […]
Bonds, bullets and barbells – what happens after yield curve inversion?
While there is no single ‘right’ approach for extending portfolio duration, there are two basic ways to consider as a starting point. For example, an investor may use a barbell approach, allocating 50% to cash and 50% to an intermediate or long-duration fixed income strategy. Conversely, the investor could choose a single investment offering a […]
