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China's Real Estate Market has erased all gains from the last 20 years/Chart >>> '''This is brilliant and should be studied by central bankers everywhere! Peoples Bank of China was the first to deflate a massive, leveraged housing bubble without a single quarter of economic contraction or loss of growth momentum in the real economy. A success for the history books''' >> remember how everyone back in 2020-21 talked about a China Lehman moment, here we are, real estate bubble deflated and there was NO crash Markets : Techs underperforming, DAX new ATH's (most of Europe in fact), crude stays sub $70, PM's recover/well-off lows-base in place-possible turn on the weaker than expected NFP last Thursday, though yields haven't backed off much at all (supply incoming etc), USD stays firm, no JPY turn without interventions! UBS dollar scandal: Seven subordinates punished alone. Instead of heads rolling at the top, there are only scapegoats: an internal investigation with eleven hours of interrogations. Finma lets the bank continue... Peruvian and Colombian presidential elections: Expatriate vote helps far right clinch victory The new UBS Global Wealth Report 2026 is out, The US ranks #2 when you look at average (mean) wealth per adult, but drops to #28 when you look at the median UBS-Dollar-Skandal: Sieben Subalterne allein bestraft – Inside Paradeplatz 'Swiss Elon Musk' jailed for fraud - SWI swissinfo.ch US job creation cools in June with payrolls growth of just 57,000; unemployment rate at 4.2% Silver's retreat looks more like a pause than a reversal – The Armchair Trader Global Wealth Report 2026 The US likes to proclaim its extraordinary wealth, yet much of that wealth is concentrated in the hands of a small group of oligarchs. Their extreme fortunes push up average figures and create the impression that typical Americans are very wealthy. In reality, median wealth in the US is lower than in Slovenia and Portugal, and roughly half the level found in Italy. Peruvian and Colombian presidential elections: Expatriate vote helps far right clinch victory China test-launches a ballistic missile in the South Pacific | AP News ITV and Sky reshape British TV landscape with $2.1 billion deal | Reuters EasyJet shares soar 10% as budget airline agrees $7.3 billion Castlelake takeover The betting markets suggest Farage could quit. Without him, Reform are nothing | The Independent Hedgeye on X: "China's Real Estate Market has erased all gains from the last 20 years https://t.co/97B9OuBZie" / X

No limit... OpenAI proposes handing Trump administration 5% stake. Sam Altman’s start-up in early talks for a public ownership deal as political pressure rises, and Trump says Micron will be investing $250 million into Trump Accounts Markets : In the past two days: Citi, Bank of America (''Hedge the rally''..), Citadel, IMF, Apollo & BIS have all warned for one reason or another. There’s a signal there somewhere…, Leveraged Fund Short Position in SOFR (Secured Overnight Financing Rate) Futures hits an all-time high, some $700 Billion in Notional Exposure in shorts... (beware short covering!!..), Fed's Warsh vows to 'disappoint' anyone who thinks he will tolerate inflation above 2%, Google loses in court against the record fine of 4.1 bio EUR, there should be little surprise is BoJ gets involved with JPY again as we head into the new quarter Eurozone headline inflation printed 0.6% below ECBs own expectations (for the Q3 peak) from the forecast made in June >> ECB forecasts HUGELY offside already US, Iran talks conclude in Doha, focused on Strait of Hormuz. Sources familiar with the discussions said negotiators for the two countries spent two days in Doha discussing maritime traffic in the Strait of Hormuz and unfreezing Iran's funds Brexit turned Britain into a vulnerable third country outside the Single Market just as trade wars between big blocs intensified Hedge fund run by UK’s wealthiest financier loses £200m tax battle, says UK no longer a serious contender as a place to do business.... sour grapes or ?.. CITI WARNS OF GROWING BEARISH PRESSURE ON NASDAQ Citi says bearish positioning is building in the Nasdaq and S&P 500, with elevated long positions leaving the Nasdaq vulnerable to further selling. Meanwhile, investors continue rotating into small-cap stocks. In Europe, weakening flows point to fragile sentiment, while Asia shows mixed positioning, with bullish bets in South Korea and heavy bearish positioning in Hong Kong increasing short-squeeze risks. BOFA: HEDGE THE RALLY Bank of America is urging investors to hedge further S&P 500 gains, warning the recent rally is losing momentum and could give way to a “three-wave correction” through September. Technical strategist Paul Ciana sees the index falling as low as 6,850—about 8% below current levels—and warns that even new highs could be a “head fake” before a broader pullback. Ukraine war latest: Children among 13 killed in Russian attack on Kyiv Fed's Warsh vows to 'disappoint' anyone who thinks he will tolerate inflation above 2% | Reuters Euro zone inflation falls more than expected, adding to ECB case for patience Barchart on X: "Leveraged Fund Short Position in SOFR (Secured Overnight Financing Rate) Futures hits an all-time high, with more than $700 Billion in Notional Exposure 🚨 🚨 https://t.co/q3wiPe24Bb" / X UK 'no longer a serious place' as hedge fund loses £200m battle in LLP tax row Sam Altman’s OpenAI proposes handing Trump administration 5pc stake EU slashes import quotas on UK steel by nearly a quarter – POLITICO Eurobarometer: 74% of Europeans say that their country has benefited from being a member of the EU | The Diplomat Bucharest Chaos bei Swissquote? – Inside Paradeplatz Chaos at Swissquote? Tax statement cut in half, tax voucher corrected, incorrect account debit. Are these isolated incidents, or is something amiss in the digital bank’s back office? Xiaoyin Qu on X: "I’m bullish on OpenAI’s $1 trillion valuation (not anthropic) despite free Chinese models. Here’s why: 1. OpenAI has Codex(better product IMO) and OpenClaw and supports open source more. Allows people to use Codex subscription on openClaw/Hermes. Codex also supports other" / X No kidding... The world's carmakers are struggling to compete with China Revealed: Reform mega-donor’s jet fuel business linked to refineries using Russian oil Reform mega-donor's jet fuel firm linked to refineries using Russian oil - Unearthed Mind boggling stuff.. this guy... Aaron Rupar on X: "here is the entirety of Palantir CEO Alex Karp's televised nervous breakdown this morning on CNBC https://t.co/gzD8debrKB" / X

Supreme Court cements Trump's power over agencies long considered independent, The conservative majority will hand the president sweeping control over the executive branch, the FTC, the NLRB, the whole alphabet, but it drew one bright line around the Federal Reserve, at least he doesn't have control of the FED....yet anyway.. Trump reported ''earning'' at least $1.4 billion in 2025 from crypto and coin ventures.. Markets : French and German inflation came in incredibly soft yday, EU inflation this morning >> the ECB has made a policy error and will pivot again soon, if not very soon.. #EURO, JPY, CHF and GOLD continue to weaken into quarter-end, let's see now, beware short covering, Microsoft is planning to announce job cuts impacting thousands of roles next week, overall we remain bearish #CHF #underweight Russia has just closed numerous checkpoints between Estonia, Latvia and Finland ..Trump told G7 leaders he is disappointed with Putin and may drop the so-called "Anchorage agreements.", FUEL shortages in Russia, Crimea etc getting pretty serious! Chinese models charge as little as 18 cents per million tokens versus $4 average for top models, says CitiBank Research, China’s open-source AI push (govt-backed) is designed to crush margins to zero. If everyone can get frontier-level models for free, US labs can’t monetize, and that pressure ripples out to the broader US economy #JPY Japan Is Running Out of Easy Choices The yen breaking beyond 162 against the dollar is not just a currency headline. It is the market testing whether Japan’s intervention zone still has power/Thread US negotiators Jared Kushner and Steve Witkoff had positive discussions with regional leaders in Qatar and technical talks with Iran are moving ahead Cleveland Fed President Hammack says AI could fuel inflation, rate hikes may be necessary Russia to halt multiple railway checkpoints on borders with Finland, Estonia, Latvia Supreme Court cements Trump's power over independent agencies : NPR The Supreme Court just made Trump the most powerful president in generations Inflation cools in biggest euro economies, easing rate hike urgency | Reuters #CHF Swiss central bank buys CHF3.94bn foreign currency in Q1 - SWI swissinfo.ch basically hardly any interventions, drop in the ocean Cleveland Fed President Hammack says AI could fuel inflation, rate hikes may be necessary Trump's income topped $2 billion in 2025, boosted by crypto, coin ventures Earnings ?... really.. All totally normal.. Trump reported making more than $594 million from sales by World Liberty Financial, the crypto firm whose co-founders include Trump, his sons, and Steven Witkoff, a top diplomat in his administration. Zach Witkoff, the special envoy’s son, serves as chief executive officer Trump is probably a shareholder in Clark Construction.. Trump using 'unusual arrangement' to secretly funnel $500 million to his ballroom: report Analysis-Cheaper AI Is Better: Soaring Bills Are Reshaping How Businesses Choose Models EndGame Macro on X: "Japan Is Running Out of Easy Choices The yen breaking beyond 162 against the dollar is not just a currency headline. It is the market testing whether Japan’s intervention zone still has power. Tokyo spent roughly ¥11.7 trillion buying yen between late April and late May, yet USD https://t.co/2ANncQip8j" / X Make this corruption/clear insiders... Axon Enterprise (AXON) Stock Drew Ethics Questions After Trump Bought $5 Million In Shares US says Witkoff, Kushner had positive talks in Doha on Iran, Trump sticks to diplomacy Microsoft Eyes Thousands of New Job Cuts in Coming Days - Business Insider Tymofiy Mylovanov on X: "Trump told G7 leaders he is disappointed with Putin and may drop the so-called "Anchorage agreements." After their August 2025 meeting in Alaska, Washington was reportedly ready to let Russia take all of Donetsk region as part of a peace deal. — Forbes Ukraine. 1/ https://t.co/5lNONXezsB" / 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.