Pierre Mouton, Author at Notz Stucki Group

Chart of the Month – Small caps versus large caps: small is beautiful… Especially in Europe!

Small caps versus large caps: small is beautiful… Especially in Europe! It is often said that Small Caps outperform Large Caps over the long term; it is true, and makes sense. Smaller companies are more agile, tend to fall less under the burden of regulation, and are generally more “pure…

Booster son patrimoine

Comment gérer aux mieux sa fortune? Selon l’étude annuelle « Global Wealth Report 2017 » récemment publiée par Credit Suisse, plus des deux tiers des adultes suisses ont un patrimoine approchant ou dépassant 100'000 francs. Et 8,8% de la population résidant en Suisse sont millionnaires. En 17 ans la richesse…

Chart of the Month – What’s going on?

What's going on? The US yield curve is flattening at a steady pace. One of the most followed indicators, the 2-10 year differential, has more than halved since the beginning of the year, from 125 basis points to less than 60 bps today. Traditionally, a flattening yield curve is…

Chart of the Month – Japanese Yen: to hedge or not to hedge?

Heart shaped hedges, Japanese gardens (« Johnson’s aeroplane” – INXS, 1984) When it comes to buying Japanese equities for a non-Japanese investor, this emotional question always resurfaces: how do I manage the currency risk for the seeds I sowed in the Japanese garden, i.e. do I hedge the JPY currency…

Chart of the Month – CAPE–ability in question

CAPE–ability in question « In theory there’s not much difference between practice and theory – but in practice, there is. » Yogi Berra. More and more warnings are being sent about the unsustainability of the current CAPE ratio for the SP500 and that a correction should occur, based on the…

Happy 1st Anniversary DGC Notz Stucki Raymond James Strong Buy Selection

DGC NOTZ STUCKI RAYMOND JAMES STRONG BUY SELECTION’S ASSETS CLIMB ABOVE € 50 MILLION FOR ITS FIRST ANNIVERSARY The fund exhibits a 19.14% performance since the beginning of the year What are the origins of this blockbuster? After a setup of several months, a partnership was created between Notz Stucki Group,…

Chart of the Month: 1986 – 2016 « LIVE TO TELL » (MADONNA)

1986 – 2016. « LIVE TO TELL » (MADONNA) In 1986 Madonna was singing a very nice song titled « Live to Tell » which rapidly became a hit. Although the song was by no means a reference to financial markets, it’s easy to extrapolate with the title and imagine…

Chart of the Month: European Sovereign Spreads: Time to be cautious?

European Sovereign Spreads: Time to be cautious? The chart here above illustrates the yield spread between the 10 years Italian BTP and the 10 years German Bund since 2010. The incredible 2011 spike in the midst of the European Sovereign crisis is striking on the chart, especially when compared to…

Chart of the Month: What is it good for?

What is it good for? Nothing! What is Japan’s desperate effort to lower its currency good for? Well when having a look at the chart below the answer is clear: nothing! Japan’s central bank has increased its balance sheet by 20% just for 2016 so far, and the result is pretty…

Chart of the month: June Edition

EURO DOLLAR PARITY: THE LOGICAL SONG This recurrent question which always comes from the audience when a financial presentation is held (outside of the US of course): “and, what do you think of the dollar?”…… and it very often embarrasses the speakers because you normally can illustrate a bearish or…