Mega temas
A market becomes inefficient, illiquid, and vulnerable to a phase transition when the ‘wisdom of crowds’ switches to the ‘madness of crowds.’ This switch from market wisdom to market madness may be the most significant recurring behavioural opportunity in active fund management and can be exploited in real-time by measuring the market’s complexity.
La adopción de criptomonedas se acelerará tras la aprobación de la Ley GENIUS, que establece un marco regulatorio para los activos digitales. Las empresas en todo el ecosistema cripto están bien posicionadas para beneficiarse del crecimiento de los activos digitales y la apreciación de precios. Las acciones relacionadas con criptomonedas son una nueva asignación estratégica, y recomendamos aprovechar las correcciones para construir una posición a largo plazo utilizando ETFs.
Cybersecurity is a strategic investment theme, which looks particularly interesting in light of the trade war and heightened geopolitical tensions. It is less exposed to tariffs than other industries and, if anything, benefits from geopolitical tensions as customers seek protection from international cyberattacks and cybercrime. The industry’s fundamentals are improving, while valuations are moderating. A recent pullback presents an attractive entry point into the theme.
Fed Chair Jay Powell’s remarks yesterday were in-line with our base case expectation that the Fed will not cut rates proactively in the face of rising tariff-driven inflation.
