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 […]
Tag: geopolitical risk
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 […]
