We present the second video of our new series “Expert Access – Quarantine Edition” which comes in three parts this time and revolves around investor questions collected during the past weeks.

Today, our Chief Investment Officer Gregory Hung talks about the top performers within our portfolio and how we approach the crisis. Our CEO Evelyne Pflugi adds why innovation is “the place to be” when it comes to resilient long-term investing and which positions she added to her own portfolio. Please find the short version below and the full version here.

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Day Hagan/NDR Smart Sector® with Catastrophic Stop Strategy February 2024 Update

BY BRIAN SANBORN
Day Hagan/Ned Davis Research Smart Sector® with Catastrophic Stop strategy, model and allocations update. Read more →

Day Hagan/NDR Smart Sector® with Catastrophic Stop Strategy December 2024 Update

BY BRIAN SANBORN
The sector model maintained mixed leadership this month. Entering December, Consumer Discretionary, Financials, and Utilities are above benchmark weight. Communication Services improved to marketweight. Information Technology, Real Estate, Industrials, Materials, Energy, Consumer Staples, and Health Care are below benchmark weight. Read more →

Thoughts From The Divide: A Giant Global Margin Call

BY JON WEBB
It’s possible to read too much into things. Consider it a flaw in our nature. But when we are told the “Worst of market sell-off might be over but hold on tight”, we can’t help but wonder about the hedged language. After all, if Goldman sees recent price action as prompted by a “giant global margin call”, surely the sell-off is an opportunity? Apparently not, as the GS note in question suggested that the flows they have seen were not consistent with “a ton of selling”. Is this diagnostically useful, and if so, in what way? If forced to offer an opinion (and we are), we would agree with GS that volumes have certainly not been indicative of capitulation. In fact, recent volatility might be better thought of as evidence of preternaturally low levels of liquidity. That in itself begs the question of why liquidity is so poor. August doldrums, or evidence of a Potemkin market? Read more →
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