Articles written by
Angel Sanz
Grafico del Mese – Azioni: Riflettori puntati su settori e tematiche
Azioni: Riflettori puntati su settori e tematiche Nei primi anni di attività di Notz Stucki, il paese rappresentava un fattore importante nell’ottica di una selezione accurata delle migliori società da detenere in un portafoglio azionario. I mercati dei capitali erano meno connessi, i flussi commerciali di minore entità, i tassi…
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Our CIO explains which sectors and companies he is pivoting towards based on government coronavirus advice.
In his interview for Citywire Switzerland, Angel Sanz explains which sectors and companies he is pivoting towards based on government coronavirus advice. Covid-19 will be contained, according to our CIO , Angel Sanz (pictured). In China, the number of new infections is going down and the same is now happening…
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Chart of the Month – 2019: Everything was positive! 2020: Be selective!
2019: Everything was positive! 2020: Be selective! One year ago, we stated the following conclusion when we summarized 2018: “2018 was the “annus horribilis” of the capital markets with no place to hide to make money. 2019 has started with attractive valuations and some challenges (US-China trade war, Brexit, Central…
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Chart of the Month – 2018: No place to hide to make money. 2019: Typically, reversion.
2018: No place to hide to make money. 2019: Typically, reversion. During 2018, all major asset classes delivered negative returns as can be seen above. EQUITIES 2018: Starting valuations were very demanding. During the year, equity investors were scared by the coming slowdown (some even talk about recession), the US-China…
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Chart of the Month – Swiss equity market: a good growth/value investment idea
Swiss equity market: a good growth/value investment idea The chart shows some interesting characteristics of the Swiss Equity Market. The Swiss Leader Index (SLI) includes the 30 most liquid shares traded in the Swiss equity market, market cap weighted, but with a 10% cap, so the Swiss giant companies like…
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Chart of the Month – Bitcoin
Bitcoin The chart above shows the price of bitcoin, a so-called cryptocurrency. Bitcoin has been appreciating for several years, but it has exploded during the last 12 months with a performance of 1600%. During the last 5 years Bitcoin has gained a staggering 10900% versus the USD. Bitcoin is a…
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Chart of the Month – Time to invest in European banks equities
Time to invest in European banks equities Banks have been underperforming dramatically since the burst of the bubbles in 2008, especially in the European market, but since the middle of 2016 the trend has been reversed. The graph shows the following information: Blue line: Price evolution. Minimum was touched in…
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Swimming against the tide: picking an out-of-favour manager
Angel Sanz is answering City Wire's question about funds's selection: "Picking an out-of-favour manager may prompt investors to question your selection methods but which funds have you stood by and benefited from despite all signs telling you to sell out? Who repaid your faith in their potential and became a…
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Perception vs. Reality: Are (more business friendly) Republican Presidents better for the Equity Market?
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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Chart of the Month – Drivers of US GDP growth: Can the US grow faster?
DRIVERS OF US GDP GROWTH: CAN THE US GROW FASTER? Before the US election, the consensus view was that potential growth for the US economy was about 1.5% - 2.0%. After Trump won the elections, many market players are discounting higher growth rates due to the coming deregulation and fiscal…
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