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

Markets : Inflation on many everyday items was entirely due to tariffs, NY Fed says, They risk hitting 6% for the first time since 2000, according to Pimco. (FT), OpenAI’s revenue is reportedly $20 billion less than previously projected (cracks start appearing), Apple cuts iPhone 18 Pro orders due to soft demand, THE EUROPEAN UNION trade chief began his mission to China yesterday—but soon got a shock, and it now starts of course 'Lagarde signals ECB ready to counter unwarranted market dynamics'.... (might well calm things down for a while mind...) >>> look for risk of USD peak, Yields 'topping', GOLD, Silver, PALL, XPT lows and likely, possible decent rally from here, BTC etc...reversal of what's been going on last 4-6 weeks in particular.. PIMCO - The world's biggest bond fund just said the US 10yr yield could hit 6% Trump said the US would “not be attacking Iran” before November’s midterms, citing productive talks between the two countries. Oil fell, Iran reiterates it has "full control" of the Strait of Hormuz China is set to resume exports ‌of petroleum refined products after a brief halt during its Golden Week holiday, a move that will help ease tight global diesel, gasoline and jet fuel markets. UK fiscal strategy faces pressure as O’Neill urges smaller budget buffer over tax rises BMW withdraws its offer of company cars to AfD politicians FT: SoftBank is in talks with senior Gulf figures, including in the UAE, to raise up to $100B for a fund that would buy companies and apply AI and robotics to their operations. The Toll Booth Economy. Thoughts on the Overnight News Saudi authorities say 3 killed in attacks on Riyadh airport claimed by Houthi rebels | AP News Ukraine War, Day 1,688: 33 Murdered In Russia's Strike on Minibuses in Kramatorsk - EA WorldView Without tariffs, inflation on goods would have fallen: New York Fed Treasury yields steady, Trump takes diplomatic tone on Iran OpenAI’s revenue is reportedly $20 billion less than previously projected BMW stoppt Dienstwagen-Angebot nach Wahl von AfD-Politiker - 20 Minuten This doesn't sound too rosy either Nvidia-backed Firmus eyes $3B funding after scrapping $5B IPO: report (NVDA:NASDAQ) | Seeking Alpha Starlink: Why Elon Musk is taking on Mukesh Ambani and Jio over satellite internet Apple Cuts iPhone 18 Pro Component Orders by 15% | MarketScreener Fort Hood attacker's execution by firing squad will be livestreamed, Pentagon says China to resume October fuel exports after holiday pause, sources say | Reuters Nury Vittachi on X: "THE EUROPEAN UNION trade chief began his mission to China yesterday—but soon got a shock. It started well enough, with Maroš Šefčovič meeting EU companies in the Asian country. “Day one in China, with one goal: begin rebalancing our EU-China unsustainable trade deficit,” the EU https://t.co/Sv40RZ2HHq" / X Labour wins Holborn and St Pancras by-election after Keir Starmer's resignation as Polanski vows to stay as Green leader UK fiscal strategy faces pressure as O’Neill urges smaller budget buffer over tax rises Will El Niño and the polar vortex bring snow to the UK this winter? - BBC Weather

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