Macron condemned “unbridled” violence, vowed an “uncompromising” response and said prefects and mayors would get powers to ban gatherings Markets : U.S. budget deficit swells to almost $2 trillion for fiscal 2026, BOJ chief says underlying inflation 'quite close' to price goal, China’s economy grows 4.5%, Macron slams failures over protest unrest, European diesel prices are absolutely exploding... Diesel is trading at almost $193/barrel, while Brent crude sits at just $106, AI bubble debt crisis (the likes of SOFTBANK are rightly being marked down, 25% off last 2weeks..) >>> overall markets fairly muted to be honest 'on the surface', but a lot going on underneath, rates slightly softer, 10's UST 5.07%, after a pretty robust turnaround last week on the stronger inflation data, whatever the reasons, price action doesn't lie U.S. debt interest payments hit $3 billion a day and jumped 8% in fiscal 2026 — faster than total federal spending, revenue and GDP growth Bank Stocks have now dropped for 6 consecutive weeks, their longest losing streak since the Global Financial Crisis AI Bubble hits 2nd largest concentration level in history, only behind the railroad mania of the 1880s Rising diesel prices create challenges for school districts, bus companies Petrol, diesel prices hold steady as brent crude touches $108. Check today’s city-wise rates France hit by worst unrest in years as Macron condemns violence US debt interest costs hit $3 billion a day and jumped 8% in 2026—faster than spending, revenue, GDP | Fortune U.S. budget deficit for 2026 fiscal year near $2 trillion BOJ chief says underlying inflation 'quite close' to price goal | Reuters China’s economy grows 4.5% on robust exports as domestic weakness persists Crime rising in Switzerland driven by fraud and property offences - SWI swissinfo.ch Trump waives several Russia sanctions as row with Zelensky intensifies Ukraine war live: Kyiv launches massive 1,000-drone attack on Russia US fears Starlink restrictions in Europe, threatens consequences — FT Microsoft pulls out of Nscale deal for UK’s largest AI data centre The GRID...as we often mentioned, the GRID is nowhere near ready for it to happen Anthropic Pledges 5% Of Its Shares To A New Public Benefit Fund France shaken after hellish night: Town halls torched, rioters and looters in several cities, as Macron faces political fire - ProtoThema English France: Emmanuel Macron slams failures over protest unrest Lukas Ekwueme on X: "European diesel prices are absolutely exploding... Diesel is trading at almost $193/barrel, while Brent crude sits at just $106. That's a staggering $87 premium. You can suppress crude prices with paper oil and manipulate sentiment with an endless flood of fake news... But https://t.co/oyeTQak4hb" / X Lukas Ekwueme on X: "Physical oil is trading at a $45 premium over paper oil. We are being flooded with fake news and paper oil... Meanwhile, we're running short of the actual physical stuff our economy depends on. https://t.co/3lcNuB6Ycw" / X Barchart on X: "AI Bubble hits 2nd largest concentration level in history, only behind the railroad mania of the 1880s 🚨 🚨 https://t.co/TsZgnSgW6v" / X

#Brexit Rejoining single market could give UK a £150bn boost (that's 6pct of GDP...) Goldman Sachs claims...Reversing Brexit would offer ‘significant economic upside’ ! finally admitting the obvious.... Markets : The AI bond rout has now hit the blue-chip tenants as well ( Thread), Fed’s Warsh withholds rate signal, praises recent global tightening, Fed’s Warsh sees AI boosting productivity but gives no signal on next rate hike, China moves to prop up stock market with selling curbs, buybacks, AI companies have captured ~83% of all US venture funding! , This is one of the biggest geopolitical mysteries of the year: why did China just save the world economy? / Thread #crude #GBP NEW: France has dropped its opposition to the UK being included in the EU’s “Made in Europe” legislation as long as the British government aligns with the bloc’s position over tariffs on Chinese EVs. Fed's Warsh withholds rate signal, praises recent global tightening Chamath Palihapitiya on X: "I suspect 70-80% of revenues at AI companies are from other AI companies who’ve raised money from the Venture industry. This is not a circular revenue problem but it is a revenue quality problem. We’ve seen this before in the SaaS cycle in the early/mid 2010s." / X And now even GS says it then... GOOD god.. Rejoining single market could give UK a £150bn boost, says Goldman Sachs IF even the Torygraph says it....so for 10y..folks been told Brexit would unlock growth.....ooerhum, so now the growth opportunity is removing the barriers Brexit created...... cant make this shitt up.. (don't fully rejoin, imho, but negotiate with EU hard again, on few things, defense, exports, energy to start with..), like CH, Norway etc, via bilaterals,... and keep adjusting as you go along next few decades... that's sellable.. re-join is tricky, and not realistic tbh UK could quickly re-enter EU with ‘Switzerland plus’ deal, senior MEP says | Brexit | The Guardian Merz vows to fight extremism after AfD success — Al Jazeera | UA.NEWS China moves to prop up stock market with selling curbs, buybacks — Bloomberg China's super-rich scramble to exit offshore trusts, raise cash as taxman knocks | Reuters Nic on X: "The AI bond rout has now hit the blue-chip tenants as well. Meta's Hyperion: 91c. Hut 8's Nvidia-leased sites: 91-93. Microsoft-leased Excalibur: 87. All were sold as the "safe" end of the AI trade. Well, it's now very quickly repricing like the risky end. https://t.co/SehuGIGRgC" / X EXCLUSIVE: WEF could appoint Lagarde as early as November, sources say | Reuters Arnaud Bertrand on X: "This is one of the biggest geopolitical mysteries of the year: why did China just save the world economy? Because, make no mistake, it absolutely did. Analysts are pretty much unanimous on this: had China not dramatically - and I mean dramatically - reduced its oil imports this https://t.co/1tw475e8BK" / X France can slash deficit to 3% by 2029, central bank governor says France who has broken every budget by not 1 or 3 bn, but 50bn last 2 years alone... that's almos timpossible, I'll believe it when I see it...'show me the money' ! The bar is set pretty high now.... Fifa: Gianni Infantino apologises over World Cup move but told he must do more - BBC Sport

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

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