Harald Egger am 03rd May 2017 (c) iStock
“SELL IN MAY AND GO AWAY (BUT REMEMBER TO COME BACK IN SEPTEMBER)”
Who has not heard of the old stock exchange rule “Sell in May and go away” – sometimes complemented by “but remember to come back in September”. We had a closer look at this adage and have analysed the performance on the global stock exchanges over the past 48 years. To this end, we looked at an index that measures exactly that: the company MSCI launched its MSCI World index on 1 January 1970, This is also the start date of our analysis.
Gast-AutorIn / Guest Author am 28th March 2017
Author: Bernhard Ruttenstorfer
Senior Fundmanager Equities
At this year’s IT trade fair CEBIT, the focus was on robots that support humans in their daily routine; on drones that can be used for difficult jobs in the field such as oil rigs; driverless electro busses that are steered by sensors and accelerate and stop autonomously; and various other technological innovations that are no fiction but have in fact already entered our daily lives. Of what relevance are they for the economy, for companies, for consumers – and for investors?
Gabriela Tinti am 03rd March 2017
The stock exchanges in the emerging economies and their performances have fallen short of expectations in recent years. Speculations about the weakening economy of China, the decline of commodity prices, and an appreciating US dollar have had a detrimental effect on emerging markets. However, the trust of investors in these markets has been making a comeback since 2016. In spite of Donald Trump’s election victory and the fear of a US policy of protectionism, the emerging economies are currently outperforming the developed ones.
Harald Egger am 16th February 2017 (c) Fotolia
Many investors focus on capital gains while disregarding the significance of dividends. And are wrong in doing so, from my point of view. The total return of a share is after all the sum of capital gains (i.e. rising prices) and dividend income. Income from dividends is of particular relevance for investors with a long-term investment horizon.
Peter Szopo am 07th February 2017 (c) iStock
US interest rates are on the rise. It took the Federal Reserve Bank (“Fed”) twelve months, after the initial lift-off in December 2015, to make the second move, but for two reasons the odds of more frequent rate hikes over the next twelve months have increased. First, the Fed has turned more hawkish and second, inflation expectations have started ticking higher. Only recently, Chairwoman Yellen warned that “waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road–either too much inflation, financial instability, or both.”
Peter Szopo am 20th January 2017 © iStock.com
The year 2016 was full of surprises. It was, for example, the year, when an outsider overcame odds of 5000 to 1 to win the Premier League. It was also the year, when the lyrics of three-minute pop songs were acknowledged to be an art form worth the Literature Nobel. Most importantly, however, politics in the Western hemisphere surprised big time with the vote for Brexit and the election of Donald Trump as the next US president.
Gerold Permoser am 19th January 2017
In our annual press conference I have presented the most relevant topics for the investment year 2017. The most relevant ones are: stronger expected global growth, an increase in inflation and elevated event risks due to political reasons.
Harald Egger am 05th January 2017 © Fotolia.de
Another year has passed, and it is time to look back. The year on the stock exchanges started out worse than in a long time. After only a few trading days, losses averaged 10%. The fear of economic turbulences originating in China dominated the markets. Meanwhile the currency of choice during a crisis, gold, was picking up speed, gaining 20% within a short period of time.
Paul Severin am 04th January 2017 © Fotolia
The last year 2016 was full of surprises also on the capital markets. Most asset classes could finish the year with a solid plus. We have analyzed, which blogs were the most popular in the last year.
Sevda Sarp am 28th December 2016 Ulrike Gruber / www.art-of-zeug.at
Turkey faced a lot of difficulties in 2016 – both on the economic and political side. On the economic front, the first half of the year was a recovery period where most of the macro data showed improvement, political turmoil had diminished and equity market was pretty much on hold while the market participants had positive views in general. A new Prime Minister and a new Governor for the Central Bank was appointed, who started his term with a positive tone with respect to Monetary Policy. On the other hand, in the second half of the year Turkey had to cope with a lot of turmoil.