The acquisition of Credit Suisse has made UBS easier to describe with superlatives, but considerably more difficult to understand through any single statistic. The combined institution is simultaneously Switzerland’s dominant universal bank, one of the world’s largest wealth managers, an important asset manager, a major corporate lender and service provider to the Swiss economy, and […]
Author: serumbach
A diversified portfolio can still depend on one legal and custody infrastructure. Here is how Swiss investors can think about that hidden concentration without building an unnecessarily complicated offshore structure. Modern investors have become very good at diversifying what they see. A single global ETF can provide exposure to thousands of companies across dozens of […]
From targeted technology restrictions to severe market fragmentation: the same Chinese company can carry very different risks depending on whether it is held as an ADR, Hong Kong share, A-share or ETF The obvious reaction to the Sberbank experience is to ask whether China could one day present the same problem. It is also the […]
Why valuation, diversification and a Swiss passport were not enough when sanctions, capital controls and financial plumbing collided Investors normally think about risk in terms of price. A company can earn less than expected, interest rates can rise, currencies can fall, competitors can improve, or an expensive share can simply become cheaper. Diversification exists largely […]
China spent decades being associated with generic medicines, active pharmaceutical ingredients and low-cost manufacturing. That description is now badly out of date. The more important development for investors is not that China can manufacture drugs cheaply. It is that Chinese companies are increasingly discovering drug candidates, taking them rapidly through early clinical trials and licensing them […]
For more than a decade, one of the easiest investment decisions was also one of the most profitable: own the United States, particularly its largest technology companies, and allow American exceptionalism to do the rest. The combination of deep capital markets, extraordinary companies, a strong entrepreneurial ecosystem and ultimately the artificial-intelligence boom made the US […]
This article completes the Guidefinances longevity exercise series. Begin with Exercise May Be the Best Longevity Investment, or revisit Stability, Balance & Mobility, Strength & Power and Aerobic Endurance. The aerobic-endurance guide asked: How long can we keep going? High-intensity cardiorespiratory training asks a different question: How much work can the cardiovascular system produce when […]
This article is part of the Guidefinances longevity exercise series. Begin with Exercise May Be the Best Longevity Investment, or read Stability, Balance & Mobility, Strength & Power and High-Intensity Cardiorespiratory Capacity. Walking, running, cycling, hiking, swimming, rowing and an elliptical trainer can all develop the same broad physical asset: the ability to sustain useful […]
This article is part of the Guidefinances longevity exercise series. Read the introductory exercise guide, or explore Stability, Balance & Mobility, Aerobic Endurance and High-Intensity Cardiorespiratory Capacity. Muscle is often discussed in the longevity world as though muscle mass itself were the objective. A more useful hierarchy is: Muscle → strength → power → physical […]
This article is part of the Guidefinances longevity exercise series. Start with Exercise May Be the Best Longevity Investment, or continue with Strength & Power, Aerobic Endurance and High-Intensity Cardiorespiratory Capacity. Strength and cardiovascular fitness matter only if we can safely use them. That makes stability, balance and mobility the control layer of a longevity […]
