Markets : Anthropic results may aid IPO but not AI trade, #JPY BOJ's Koeda warns against being overly cautious on rate hikes >>> Oct hike odds jumped after the CPI data, but comments from Fed officials including Michelle Bowman and Mary Daly that the central bank could wait tempered pricing, leaving markets expecting a hold on October 28 as producer prices, retail sales and a speech from Chair Kevin Warsh loom >>> after hot U.S CPI, UST yields peaked (BONDS oversold), dropped to lowest levels this month...!.. USD peak probably (overbought-stalling momentum) confirmed (in short-term), GOLD held well, as market is finally/suddenly pricing in some 'recession' risk rather than rate risk.. Diesel squeeze set to last well into 2027 as Iran war disrupts supply, IEA says G20 finance chiefs to forgo joint statement as Bessent skips Bangkok meeting UBS Ermotti ultra-tough: Wall Street Journal brings US merger EU leaders are reportedly discussing "more limits" on Chinese goods after the hybrid car deal Meloni lays out Italy’s vision for a stronger Europe: Security, competitiveness and strategic autonomy Anthropic results may aid IPO but not AI trade, analysts say - The HinduBusinessLine TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom CoreWeave Stock Could Go to Zero if AI Boom Falters, D.A. Davidson’s Gil Luria Warns Stock Market Today, Oct. 14: Oracle Tumbles on Hotter CPI Data Lifting Treasury Yields Barchart on X: "Semiconductor Stocks $SOXX are getting hammered in after hours and on track for their 8th consecutive red day, which would be their longest losing streak in 16 years 📉 📉 https://t.co/6s15kvW4O1" / X Barchart on X: "Small Cap Stocks $IWM have entered a technical correction after falling more than 10% from their August all-time high 🚨 https://t.co/pisVwZdJTg" / X Meloni lays out Italy’s vision for a stronger Europe: Security, competitiveness and strategic autonomy – Decode39 Ukraine war latest: Musk calls for Zelenskyy to go - after Ukrainian says he's 'losing' US to 'painful' Trump choice | World News | Sky News US considers easing sanctions on shadow fleet vessels to cut freight rates, official says | Reuters G20 finance ministers, central bankers gather amid fallout from Iran war | Business and Economy News | Al Jazeera Fed's Daly says more rate hikes may be needed but sees no urgency to act now - The Herald Business Ermotti ultra-hart: Wall Street Journal bringt US-Fusion – Inside Paradeplatz ...(doubt it will happen, probably the usual threats to Swiss government,..let's see) Hedge fund Tiger looking at $5bn gain on OpenAI – The Armchair Trader UK economy grew 0.1% in August, beating expectations BlackRock AUM Hits $15.5 Trillion Following $205 Billion Of Quarterly Net Inflows Victoria Beckham’s 'tragic' homeware range 'worse than Poundland' | This is Oxfordshire

Markets : Fed's Goolsbee says "AI is an inflation problem", S&P500 forward PE drops to lowest since 2023, ECB President Christine Lagarde signals no intervention in France’s fiscal crisis (yet...), ECB not seeing second round inflation effects, China's exports SURGED last month - up 36% on a year earlier, 88.6% of Japan households expect prices to rise a year from now, BOJ says, IMF dials up calls for urgent fiscal consolidation >>> TEN STOCKS DROVE 70 PERCENT OF THE S&P 500'S GAINS SINCE MARCH 30 (concentration of risk and earnings..), now focus on U.S CPI Global smartphone shipments hit the worst third quarter in 14 years due to memory shortage caused by SI Iran shifting tactics to step up attacks on shipping before US vote | The strategy includes a change in the type as well as the pace of attacks, with ​one goal being to influence the outcome of the US vote, Saudi Aramco HQ attacked in suspected Houthi strike | Iran-backed militants retaliate after Riyadh-led coalition targets sites in Yemen’s capital, Oil prices climb as Iran deploys new tactics to target ships transiting Hormuz | Oil prices climbed on Wednesday after two vessels were struck ‌in the Strait of Hormuz and Iranian officials told Reuters they were deploying new tactics to target ships, as Tehran seeks to keep oil prices high and influence the US midterm elections Europe's mass-market carmakers under 'enormous pressure', Volkswagen CEO says Bank of America fined $1.2 billion over money-laundering violations China just issued 3-month bills at 1.13% yield, lowest rate in over 17 years, for context, equivalent US T-bills are at 4.05%, demand for Chinese sovereign debt remains very strong, even as Beijing supports growth and manages a stronger yuan China’s September exports soar, putting $1 trillion trade surplus in sight, largest in over 5 years, even with tariffs, threats, the world needs China more than ever.. Saudi-Houthi War: Powerful Explosions Rock Riyadh After Residents Get Aerial Threat Alert - News18 Ukraine war briefing: Zelenskyy decries ‘absolutely unjust’ lack of warning from allies after Kyiv plant strike | Ukraine | The Guardian ECB President Christine Lagarde signals no intervention in France’s fiscal crisis | CNN Business Iran faces worse economic outlook than war-hit Mideast rivals, IMF says | Iran International China’s September exports soar, putting $1 trillion trade surplus in sight | The Straits Times IMF dials up calls for urgent fiscal consolidation | Reuters South East Asia haze: What's choking Singapore, Malaysia and Indonesia? UK growth forecast upgraded but higher energy prices to hit economy next year Williams says Fed may not have to hike rates in 2027, at odds with traders Bank of America fined $1.2 billion over money-laundering violations Taiwan agrees to buy 30% of gas from Alaska LNG project, Trump says Can Oxford Instruments capitalise on the AI infrastructure boom? – The Armchair Trader How bad has the 'cost of living crisis' really been? What's up with Donald ??!!?? Clash Report on X: "Trump: https://t.co/LZxN4Jv82m" / X Aaron Rupar on X: "Q: You said Zacharia is an attorney. Where did she pass the bar exam? What state? ZACHARIA: When I moved to China https://t.co/LUAk4Vhqgp" / X

Broadcom's CEO said investors "have no clue what they are investing in"... Many AI Investors are like Casino Gamblers, he warns again, well if it comes from the horse's mouth it must true !? Markets : France start debate on budget (that'll be fun..), IMF warns bond yields could see a ‘disorderly’ spike as debt, inflation risks worsen (but UPgrades.. UK growth from 1 to 1.3%) AI investment props up global growth, but war and debt threaten outlook, 'chip' sell off (SK down 5% overnight), Nvidia's China AI-chip share falls as Huawei closes gap, BANKS kick off earning season today, U.S mortgage Bond Funds Suffer One of Worst Outflows Since 2021 (chart) >>> NASDAQ tested 31K again and failed (momentum turning again on Broadcom CEO warnings, KOSPI down 10% in few days etc), USD 'may' peak in short-term with UST yields peaking (inflation and Warsh coming up tomorrow for confo), GOLD holds well above $4K should rally again as/if/when UST yields peak confirmed in short-term US hopes diesel deal can 'soften' Moscow on peace talks | President Trump's envoys told Ukrainian officials that a deal to allow Russian diesel exports is part of a ​bid to draw Russia back to negotiations after the failure of previous efforts to launch sustained talks to end the war, US is considering cutting Starlink access for Ukraine, NATO’s top commander warns Russia that the alliance would destroy “anything and everything” supporting an attack on NATO territory... Europe’s biggest auto show is now dominated by Chinese cars, EU now needs to react.. Franco-German deal on EU car policy is ‘imminent’, says Macron CNN says China is "rapidly building data centers" while the US fights over their construction France unveils cost-cutting 2027 budget as borrowing costs rise AI's circular financing loop is pulling in billions from abroad, and 2008 comparisons are back Les nouvelles opportunités dans l’IA | Lombard Odier Asset Management Where the US midterm elections will be won and lost IMF warns bond yields could see a 'disorderly' spike as debt, inflation risks worsen Oil prices today: WTI, Bent fall as traders assess Russian supply prospects Beth Hammack on Fed policy and inflation risks See 'housing market', clearly started to hurt this year... Visa gets Beijing's green light for bank card business after 40 years of working with China UK PM Burnham says Iran's IRGC likely behind RAF Fairford incident | Reuters Burnham speaks with the confidence of a mayor but without the gravitas of a PM The IMF has upgraded the UK’s growth forecast for 2026 from 1% to 1.3%... China’s CXMT unveils ‘key progress’ on chip structure pursued by Samsung, SK Hynix | South China Morning Post Europe’s biggest auto show is now dominated by Chinese cars India's ‘Cockroach’ party protest over voter fraud gains ground Fund managers facing rising credit and market risks – The Armchair Trader Christophe Barraud 🇫🇷 🇲🇨 on X: "🇺🇸 US #Mortgage Bond Funds Suffer One of Worst Outflows Since 2021 - Bloomberg https://t.co/oFSHL3HUbA https://t.co/LdofX4oNAQ" / X Ai is so safe innit..The next kind of hack ! .. Fridges in French supermarkets hit by cyber attack

Relative value asset management for global assets. PVM's Investment Matrix combines balance-sheet analysis with peer comparison to identify entry and exit points. Asset Management Using our unique relative value based Investment Matrix we build portfolios with superior analytical metrics, compared to mainstream equity indices. We currently have two different Portfolio offerings; firstly our classical Long only Global Equity model (suitable for all investors), and a Multi-Asset Class model, designed to generate additional alpha (suitable for Professional and Institutional clients only). We deliver discretionary portfolio management through individually segregated accounts held in your name. This flexible mandate empowers you to complement our core PVM Investment Matrix Portfolio by actively incorporating listed securities of your own selection. PVM Global Equity Long Strategy Type Long Global Equity Suitable for All Investors Focus Absolute return/low risk Minimum Investment 150k CHF 2025 Performance 2026 Performance (30. Sept) +21% +6.3% Performance since Jan 2016 +109% More PVM Global Multi-Asset Strategy Type Multi-Asset Class Suitable for Qualified Investors Focus Absolute return Minimum Investment 250k CHF 2025 Performance 2026 Performance (30. Sept) + 26% +13.4% Performance since July 2015 +194% More Our Investment Philosophy Investment Matrix Fundamental Design In 2015 we developed our dynamic Investment Matrix consisting of many fundamental variables, designed to identify value opportunities within Global Equities. Our Investment Matrix is constructed to identify and establish sustainable value. There are many reasons why that value may also not be sustainable, such as changing consumer sentiment or spending more on share buybacks than current cashflow permits, the PVM Investment Matrix reacts to these changes. Algorithmic Processes Systematic Throughout We utilise proprietary algorithmic screening, with a high degree of automation, to analyse the global equity universe, monitor our Clients' Portfolios, and identify new opportunities. Furthermore, we use algorithmic execution tools when buying and selling our clients' portfolios, where appropriate. Qualitative Rationale Deeper Understanding Driven by deep analysis of balance sheets and employing further levels of qualitative analysis, results in a thorough understanding of the companies we invest in. We consider factors, such as; the mix of Goodwill and Intangibles to Net Equity, tracking deviations from recognized Accounting Standards and taking a broader view of the global economic landscape. Robust Returns, less Risk Better Together The combination of quantitative systematic analysis, overlaid with qualitative reviews and active management within clearly defined parameters, results in an investment model which is both robust and not easy to replicate. Stable returns are achieved by taking less investment risk, at higher valuations. Investment Process "We believe that an uncompromising investment process is a key component in delivering consistent returns."

Meet the PVM team — 75+ years of combined professional experience in Swiss asset management and relative value investing. FAQs (/faq) MANAGEMENT TEAM Elke Balters Compliance Officer Qualified Lawyer Read More ProCloud AG Information Technology Provider Cloud Services and Cyber Security Read More SwissComply Compliance ICS Specialising in Finma Compliance Read More Alison Lazerwitz Non Executive Director Legal & strategy advisor Read More Stephan Collet Chief Executive Officer Expert in global macro and derivative products Read More Richard-Mark Dodds CIO & Chairman Detailed knowledge of fund management portfolio construction, accounting and treasury operations management. Read More