Through his speeches and writings, Warren Buffet's late ‘right-hand man’ left a legacy of real life and investment lessons. Excerpt below (source: Compounding Quality on X)

Economic growth is soft, external challenges rise, but China stays the course. This is essentially the conclusion that can be drawn after the Third Plenum and the most recent economic data. The focus of Xi Jinping is not on trying to maximize short-term economic growth, but rather on continuing the transformation and modernization of the economy. As Donald Trump looks set to return to the White House with a new set of tariffs in his MAGA cap, as Europe eventually raises trade barriers of its own, as sanctions on Russia redefine energy and commodity trade flows, China is central to the ongoing emergence of a new world economic order.

One of the spiritual fathers of behavioral finance passed away in March this year. Below, we pay tribute to Daniel Kahneman by highlighting 10 of his main empirical studies in the field.

“ Creativity is just connecting things.” Steve Jobs

New technologies linked to blockchain are likely to play an important role in the luxury goods industry in the coming years. Overview below with a few case studies.

Brace for elections in Europe and keep a close eye on inflation.

As demonstrated in the recent European elections, populism is in vogue in many developed countries. This is a long-term trend with major macroeconomic consequences.

1. The long view by Adrien Pichoud,Chief Economist 2. European equities: reasons to be fearful, reasons to be cheerful by Gaël Combes,Head of Equities 3. Fixed income: OAT spreads on the rise while credit spreads remain well behaved by Gaël Fichan, Senior Portfolio Manager – Head of Fixed Income 4. Forex: Euro is (again) under pressure by Adrien Pichoud

According to Statista, the 10 largest asset management companies manage approximately 30% of the world’s assets under management as of June 2024. And it’s unlikely that this concentration of assets has fallen over the past two years. How can we explain such a craze for management behemoths?

The recent presidential elections in Mexico, held on June 2, 2024, have created both uncertainty and opportunity in the bond market. Despite short-term volatility, there is a strong case for increasing exposure to Mexican sovereign bonds in local currency. Mexico benefits from a strong relationship with the United States and structural shifts like nearshoring, making it a promising landscape for fixed income investments.