Articles written by
Sébastien Poiret
Chart of the Month – Could the USD/EUR surprise on the downside in 2020?
Could the USD/EUR surprise on the downside in 2020? The strength of the USD has been quite surprising this year when looking at central banks activity and fair value models. It is now up 4.0% versus the EUR at 1.10. The US Federal Reserve reversed course in early 2019 by…
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Chart of the Month – Sell in May and go away? or Hedge a quarter and sleep better?
Sell in May and go away? or Hedge a quarter and sleep better? It was an extraordinary time to hedge a portfolio (or take profit) in November 2017 when the ratio S&P 500 PE/VIX reached 1.80 and was close to 3 standard deviation away from its mean (refer to our…
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Chart of the Month – Active Management: being at the right place at the right time
2018 - Active Management: being at the right place at the right time French coach Didier Deschamps had to be very selective with his players and implement the right strategy to win the World Cup 2018.Active management is like soccer, you have to be a the right place at the…
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Chart of the Month – “Something’s gotta give”
“Something's Gotta Give” Something's Gotta Give is a 2003 American romantic comedy starring Jack Nicholson and Diane Keaton who find love for each other in later life, despite being complete opposites. Why is the USD so weak recently despite the 10-year interest differential between the US and Germany indicating the…
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Hedge Funds: Myth Vs Reality
La CFA Society of Mauritius et Notz Stucki Origins Limited ont fait une présentation sur le thème ‘Hedge Funds : Myth vs Reality’. Sébastien Poiret, Managing Director de Notz Stucki Origins, a dressé un tableau de la performance de ces fonds tout en évoquant l’environnement de « bull market »,…
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Chart of the Month – It has never been a better time to hedge your YTD performance!
It has never been a better time to hedge your YTD performance! The S&P 500 Index is currently trading at all time high after being up +14.75% YTD and over +20.0% in the last 12 months. S&P 500 90-day realized volatility is now trading at the low range of the…
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Chart of the Month – Active management is back but beware of the next equity sector rotation!
Active Management is back but beware of the next equity sector rotation! After a tough 2016, active managers (long-only stock pickers and hedge funds) are back in business and outperform their benchmark since November of last year. This is due to two main reasons: Number 1: Sector and stock correlation…
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Chart of the Month: US Healthcare sector, an appealing opportunity?
US Healthcare sector : an appealing opportunity? The US Healthcare sector is comprised of Pharmaceutical, Biotech, Medical Equipment and Hospital companies. Due to Hilary Clinton’s Tweet in 3Q15 to restrict pricing policies, this sector has corrected with high volatility. Despite that, earnings continue to grow steadily: +12% annualized growth over…
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Chart of the month: May Edition
WHY IS ACTIVE MANAGEMENT UNDERPERFORMING THIS YEAR? 2016 has so far been a difficult year for active managers (long only stock-pickers and hedge fund long/short equity managers). If we take the US equity markets as the main proxy we see that the MSCI USA Index is up just +1.3% for…
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