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

Markets : Crude slightly softer after Trump announced an 'energy ceasefire' between UKR and Russia, and a diesel supply deal with Moscow, although Houthi attacks on Saudi Arabia and tanker strikes near Hormuz kept prices above $100, bond market awaits U.S inflation (exp on Wed is up o 3.7% on higher energy costs, and core softer at 2.5%), and Warsh for FED rate path into med-terms, , India unveils tough curbs on dollar demand to defend rupee, Real Estate Stocks now underperforming the S&P 500 by the largest margin in history (chart-time to consider) >>> Eq markets stable with slightly softer crude and slight 'ease' in UST yields ahead of US inflation data Hedge Funds now have the highest long exposure to Mag 7 stocks in history / Thread US threatens to block arms for Ukraine over attacks on Russian refineries Nine hours’ work for CHF70: Uber drivers in Switzerland demand better conditions Brexit : The EU’s message is clear: the door is open, but Britain must decide whether it has the courage to walk through it Commission selects 46 new Strategic Projects to bolster the EU's supply of critical raw materials - EC Weekly Trader's Stock Market Outlook | Charles Schwab Saudi Arabia's Riyadh airport hit by second Houthi strike in two days China says EU hybrid trade deal allows export growth from 2025 levels - CnEVPost Iran war’s end will be turning point for India, Amundi arm says India unveils tough curbs on dollar demand to defend rupee | Reuters IP_26_2113_EN.pdf Healey faces £35bn Budget challenge to meet spending pledges, says think tank Rejecting closer EU ties would be dereliction of duty, PM to say MEP Glucksmann wins French center-left primary, becoming candidate for presidency – POLITICO Polish police detain man over threat to PM and defence minister | Reuters Thieves in Italy steal 30,000 wine bottles worth €5m, reports say Uber drivers in Switzerland call for better conditions Low water level in Lake Zurich reveals new island - SWI swissinfo.ch Barchart on X: "Real Estate Stocks now underperforming the S&P 500 by the largest margin in history 📉 📉 https://t.co/6EleuW1LK6" / X Barchart on X: "Hedge Funds now have the highest long exposure to Mag 7 stocks in history 🚨 https://t.co/rhri2AdIVj" / X Deloitte helped in falsifying documents to evade tax on Abramovich’s wealth, BBC finds Liz Webster on X: "🚨 The EU’s message is clear: the door is open, but Britain must decide whether it has the courage to walk through it. The EU ambassador describes the UK as its “first and foremost partner” and says Brussels will be ready to engage once Britain decides what it wants. For https://t.co/6w6UKJDjCz" / X

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."

Pure Value Metrics is a Global Asset Manager based in Switzerland. We also provide Multi-Family Office Services specializing in Trusts for International investors. Unique Relative Value investing supported by detailed balance sheet analysis Pure Value Metrics Switzerland For Swiss and International Clients, we provide comprehensive tailored asset management and innovative multi-family office services, including trusts. We facilitate multi-generational capital appreciation solutions. PVM is a Swiss based asset manager for Global Markets, with a unique Investment Matrix dynamic portfolio selection process, which involves targeting single value stocks and then taking a deep dive into their balance sheets for financial robustness and then assessing their relative value both against their competitors and themselves, to determine the investment entry and exit point. Latest Monthly Client Report PVM BITs BLOG Our daily round-up of Global Macro Market Trends and insightful news topics are offered with a free subscription Subscribe Blog Burnham's big EU summit coming up in Nov! #GBP ! / Global bond markets sell-off, credit markets warnings equity world Crude softer=Fixed Income relief 'rally', USD softer, GOLD higher, USDJPY back lower / UK's Burnham open door to EU AI leaders meet Trump, as Anthropic >> OPENAI >> NVDA / JPN-U.S coordinate on JPY / Germany-EU budget ultimatum Media Apperances Please reach out to discuss your requirements Contact us / Visit our office