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Iran update : Trump says ‘crazy’ Netanyahu has made everyone hate Israel in furious phone call – Axios report, Trump and Benjamin Netanyahu offered differing accounts of the situation with Lebanon, with the US saying Israel and Hezbollah agreed to halt attacks while Netanyahu signaled operations would continue, US in talks to expand nuclear weapons deployments in Europe. Washington has signalled openness to additional countries hosting nuclear-capable bombers Markets : ...the rules changed and then SpaceX files for IPO, 'BEWARE' !.., Alphabet to raise another $80bn to fund AI buildout (-2% after hours), cash now makes up 3.9% of BoAFM's only (biggest monthly drop in cash), OIL up and down on headlines though still near $90 (NO big spike to $150 as some predicted, perhaps the risk is a LONG period of near 90+..like a structural supply shock), RBA’s Harper Worries Over ‘Uptick’ in Inflation Expectations, EV sales set to hit 23 million in 2026 as nearly 1 in 3 new cars goes electric worldwide, Goldman Sachs just warned clients quietly: Big funds are selling GOOD and NVDA and other megacaps right now to raise cash specifically to buy SpaceX when it IPOs on June 12 >>> at $1.8 Trillion SpaceX IPO valuation is it worth buying? SpaceX: 2025: Net loss $4.9B 2026 Q1: Net loss $4.3B Priced at 94x revenue pricing in decades of future growth today. What do you think?...going to pass personally, utterly overpriced & overhyped ! this is in fact like looting the coffers... one could even argue of a 'fraudulent' approach Bolton: The Rubicon is crossed — Iran now knows it can close the Strait whenever it wants leverage Two economists just published a mathematical proof that AI will destroy the economy. Not might. Not could. Will — if nothing changes. Source: Falk & Tsoukalas · Wharton School + Boston University (Thread) Chinese labs with ties to military seeking Nvidia’s AI chips The U.S. Strategic Petroleum Reserve is less than 10 days away from falling to its lowest level since August 1983- a level not seen since the SPR's initial fill-up that began in 1977- per Petroleum Analyst Patrick De Haan. Fund managers are all in on stocks, BofA survey finds The AI Layoff Trap The loop has no natural exit. The researchers tested every proposed solution. Universal basic income. Capital income taxes. Worker equity participation. Upskilling programs. Corporate coordination agreements. Every single one failed in the model. The only intervention that worked: a Pigouvian automation tax — a per-task levy charged every time a company replaces a human with AI, forcing them to price in the demand they are destroying before they pull the trigger. Alphabet to raise $80 billion from stock sales to fund AI buildout Trump says ‘crazy’ Netanyahu has made everyone hate Israel in furious phone call – report - AOL Australia lifts minimum wage by 4.75% as inflation reaccelerates | Reuters Hedgeye on X: "Rule changes for the SpaceX $SPCX IPO: Index providers waived the profitability requirement and cut the seasoning window from 90 days to 5. This forces over $30 trillion in passive 401k and retirement money to buy SpaceX at IPO valuations. Bloomberg Intelligence estimates S&P" / X After the dot-com crash, S&P tightened the rules. Nasdaq tightened the rules. FTSE Russell tightened the rules. For 23 years, those rules held. Then SpaceX filed for IPO >>> AND the rules changed. The S&P 500 waived the profitability requirement. Nasdaq cut its trading-history window from 90 days to 15. FTSE Russell cut its to 5. Bloomberg Intelligence estimates the major index funds will absorb between 19% and 24% of SpaceX's float within six months. That's over $30 trillion of passive 401k and retirement money, mechanically buying a single newly public company at IPO valuations, because the rules said they had to. Except the rules used to say they didn't.... EV sales set to hit 23 million in 2026 as nearly 1 in 3 new cars goes electric worldwide UBS cut hundreds of jobs in reduction phase, media reports - SWI swissinfo.ch Questions raised over Reform’s ‘multimillion-pound black ... US in talks to expand nuclear weapons deployments in Europe, FT says | Reuters Chinese labs with ties to military seeking Nvidia’s AI chips - The Japan Times Chinese firms’ market share gains driven by subsidies, says OECD Ole S Hansen on X: "#Commodities Crude oil continues to trade from one headline to the next, making it increasingly difficult for traders to maintain conviction beyond a few hours. On Monday, prices posted their biggest one-day gain in a month after rebounding from a six-week low when Iranian" / X Eco Buildings to take on UK's housing crisis – The Armchair Trader

Blue origin's new Glenn rocket exploded on the launchpad during a hotfire test at launch complex 36.. not during flight.. on the ground.. before it even left the pad..FAA investigation now required before any resumption.. weeks to months of schedule slip minimum before a re-flight attempt is even possible.... IPO delay ?... Iran updates : Deal or No deal.. down to the details, always, cash and Lebanon.., details are hardening, Iran will sign peace with the US only if Washington wires $24B of frozen assets first. $12B on signing, $12B over the next 60 days, Trump and Co threatening Oamn, Qatar and pretty much anyone to sign what they want... signs he US empire is declining.., Russia overspends on Putin’s war in Ukraine by $28bn Markets : Exxon's just said oil inventories will hit "really, really low levels" in 2–3 weeks, Pimco Warns AI Data Centers Are Flooding Junk Bonds, $250 bill - are you sure ?..see below, Elliott wave : Bullish sentiment hits a 29-year extreme, A Company accidentally spent $500 million on Claude AI in one month after forgetting usage limits...mindboggling stuff..Morgan Stanley just doubled its European bank job cut forecast from 10% to 20% by 2030, roughly 400,000 roles, ABN Amro is cutting 20% of staff by 2028, HSBC is trimming 20,000 roles, Banks are spending today on the promise of tomorrow savings, That is bet, not plan Nothing sums up the death of accountability like the prospect of Nigel Farage in No 1 Has Peter Thiel ‘relocated’ to Argentina? What the NYT report really says #GOLD Ex-CIA official arrested after $40M in gold bars allegedly found inside his home Blue Origin's New Glenn rocket explodes in massive fireball during prelaunch test | Space Blue Origin rocket explosion rocks Florida's Space Coast US and Iran reach tentative deal, pending Trump's approval Totally normal ?.. Anthropic vaults to a $965 billion valuation with new funding as Claude demand surges Putin’s secret plan to fund the Ukraine war is building a $200,000,000,000 time bomb inside Russia’s banks Saxo's daily from Erik : Morning Brew May 29 2026 | Saxo Bank Switzerland Exxon warns oil inventories will hit dangerously low levels in weeks, forcing prices to shoot higher Pimco Says Junk Debt for Data Centers Diverging Into Two Markets - Bloomberg Trump administration prepares for proposed $250 bill with the president’s face on it Fact check: Has Peter Thiel ‘relocated’ to Argentina? What the NYT report really says Could be that Peter Thiel is cooking up a plan B for fleeing the United States and hunkering down in Argentina, an indicator perhaps of how bad he think it’s going to get for the new right and how dramatically JD Vance has failed as a viable political vehicle for Thiel’s agenda, probably just some sort of 'elite optionality to bugger off there if things go bad in the US of A.....imho'' Company accidentally spent $500 million on Claude AI in one month after forgetting usage limits - Tech Startups 🤣🤣🤦🤦 Uber burned their entire 2026 budget by April. Their COO said he can’t connect any of it to consumer features....A CTO told Axios employees were using enterprise AI to check the weather ....Microsoft canceled most Claude Code licenses because the token bill spiraled....so Companies are now laying people off to pay the AI bill. Not because AI replaced the work. Because the bill replaced the headcount. Ex-CIA official arrested after $40M in gold bars allegedly found inside his home - CBS NewIr Nothing sums up the death of accountability like the prospect of Nigel Farage in No 10 | George Monbiot | The Guardian Trump administration prepares for proposed $250 bill with the president’s face on it :-) If this goes forward — $250 bill with Trump's face on it. — Chinese will get a huge kick out of it. "250" (二百五， èrbǎiwǔ) is a common Chinese insult meaning a half-wit, a blockhead, a fool. Comedy writes itself. 笑死. Elliott Wave International on X: "Most investors see the S&P at all-time highs. Few notice what’s happening underneath the surface. The S&P just hit an all-time high while 5% of its stocks made new 52-week lows - that has only occurred 4 times in U.S. market history. July 1929. January 1973. December 1999. And https://t.co/LBGGs5aAhU" / X

Is Ai THAT good ? Starbucks, MSFT and Uber say 'nope'... (see below articles)....China adds AI chips to secure technology assessment list amid US curbs >> In plain English: American chips are being pushed out of China’s most sensitive procurement systems — party organs, government agencies, state-owned enterprises, and strategic public sectors, and China capital outflows stories, are flows heading into HK.. (Thread) Iran war updates : Trump asserted that no one nation would control the vital Strait of Hormuz waterway, highlighting a key sticking point in resolving the war with Iran. Hours later, American forces carried out airstrikes on an Iranian military site, as a resolution to the war that began nearly three months ago remains elusive despite recent optimism. A US official said the attacks were defensive and the US intends to maintain the existing ceasefire, Trump continues to suggest a deal with Iran is close, he finds himself caught between two extremes: Tehran’s demand for financial relief and an end to attacks, and pressure from Republican hawks to “finish the job” — or at least not to sign a bad deal, pressure is on for Trump to accept and declare any deal done..Trump painted himself in a corner by trashing JCPOA ("Obama deal") only to find out that his improvisations can only get a worse deal, yup we all know this.. Markets : Chart of the Week - Korea? For most investors the KOSPI is not the first index they check when they get to the desk, Eq a little softer Iran/US negotiation deadlock (Lebanon trivcky amongst other things..!), China’s yuan is rapidly eating into dollar dominance Goldman Sachs says RMB use in China-linked trade surged from 13% in 2019 to 30% last year, while cross-border yuan transactions exploded from 9 trillion yuan in 2017 to 64 trillion in 2024. Beijing sees the yuan's internationalization as strategic insurance — and the trend is only accelerating Elon Musk wants a SpaceX IPO valuing the company at upwards of $1.75 trillion >>> to get there he got the rules changed so that index funds, with millions of Americans' retirement savings, are forced to buy in #SpaceX IS AI that GOOD ?? ...maybe not ....these -3- say 'nope', -3- massive setbacks it seems.. and they will have to monetize ti all on current valuastions ?.. hummm Starbucks scraps AI inventory tool across North America: Reuters Microsoft Pulls the Plug on Claude Code Licenses: What Developers Need to Know | The Coders Blog | Home Uber AI Budget Blown: Claude Code Costs Hit $3.4B in 2026 | byteiota "Lex SpaceX"? Nasdaq changes index rules for Musk's IPO | heise online Iran-US-Israel War News Live: At Least 6 Killed In Israeli Strikes On Southern Lebanon - News18 China adds AI chips to secure technology assessment list amid US curbs | South China Morning Post Fed's Cook says inflation is moving in the wrong direction, but she's looking to hold rates steady Chart of the Week - Korea? - by Callum Thomas NEXTA on X: "🤖 AI turned out to be too expensive to replace humans Microsoft has started limiting employee access to Anthropic models and revoking Claude Code licenses. Uber is also cutting AI spending: the technology is becoming too expensive and failing to justify expectations. https://t.co/NAGNMNfHcG" / X Javier Blas on X: "Must read from @michalmei on how China has managed to reduce oil imports so sharply without (based on available data) tapping stocks. She offers an alternative to the ‘China-is-tapping-in-secret-its-SPR’ narrative, focusing on refinery yield shifts. 📑: https://t.co/XmH0RuFf1t" / X BP chair Manifold hits back at 'false' misconduct claims Can the US economy really afford $100 oil? – The Armchair Trader Arnaud Bertrand on X: "This is quite funny. There were these two stories over the past 24 hours: 1) "China is seeing massive capital outflows" 2) "Hong Kong overtakes Switzerland as hub for global offshore wealth" But it's actually one and the same story: China is seeing massive capital outflows BUT https://t.co/PHJDmeNlyC" / X

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

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 Only Global Equity Suitable for All Investors Focus Absolute return/low risk Minimum Investment 150k CHF 2025 Performance 2026 Performance (31. May) +21% +5.1% Performance over 10 years +102% 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 (31. May) + 26% +3.6% Performance over 10 years +170% 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.