Category: Daily Instagraph

One of the most famous variations of this sentiment is attributed to Alan Greenspan, former Chair of the U.S. Federal Reserve, who frequently emphasized that you can’t confidently identify a bubble until after it has burst. In a 2002 speech, Greenspan stated: “We at the Federal Reserve recognized that, irrespective of the possibilities of a … Continued

German mid-cap KION is a global leader in supply chain automation solutions, boasting a market cap of around €4.6 billion, which we own in our European Value Fund. Yesterday, the stock price jumped 9.6%, spurred by Jensen Huang’s NVIDIA keynote, where he showcased his new AI partnership with KION. The stock is still down 42% … Continued

The MSCI World Index, which comprises more than 1,400 companies across the globe, serves as the standard benchmark for most global equity funds and is the yardstick against which fund managers are measured. Last year, over 90% of the index’s gains were driven by U.S. stocks, implying that any manager who shunned American equities ran … Continued

On behalf of the entire ECP team, I’d like to wish you a happy and prosperous 2025, filled with good health and success in all your personal, financial, and professional endeavors. Looking ahead, many market observers believe 2025 will mirror the past year, with ongoing outperformance by U.S. equities—particularly in technology. At ECP, however, we … Continued

As the year draws to a close, we can once again say that 2024 has been a strong vintage for investors. Looking ahead, 2025 will certainly bring new challenges. During the festive season, we plan to take a brief creative break to reflect on the year gone by and prepare for what lies ahead. On … Continued

Novo Nordisk—Europe’s largest listed company by market capitalization—saw its stock price plummet by 21% on Friday following the release of underwhelming results for its latest weight-loss drug, Cagrisema. In a late-stage trial, patients lost 22.7% of their body weight, falling short of the 25% reduction Novo Nordisk had targeted and only narrowly surpassing the results … Continued

Over the past 25 years, China has risen from near obscurity to claim the top spot in global automotive manufacturing, now accounting for 39% of worldwide production. Given that non-luxury car making has always been a numbers-driven business dating back to the era of the Ford Model T, it will be increasingly difficult for legacy … Continued

As the price of gold has risen by 28.6% in USD terms in 2024, we believe the primary driver of this increase is heightened central bank purchasing. The renewed emphasis on gold as a strategic reserve may be fueled by inflationary concerns and the desire of non-U.S. central banks to reduce their dependence on the … Continued

Excluding NVIDIA from the S&P 500 reveals that European stocks have performed on par with their U.S. counterparts since the start of the current bull market in October 2022. As the old saying goes, “If you torture the numbers enough, they’ll eventually give in.” This graph’s narrative, however, hinges on the careful choice of starting … Continued

A fascinating study by Citigroup on the rise of AI-powered robots and humanoids ( Citi GPS – The rise of AI robots – Dec 24 ) predicts that over 1.3 billion AI-driven robots will inhabit the Earth by 2035, with this number soaring to 4 billion by 2050. Key applications are expected to include autonomous … Continued