During the past two trading days we did experience a market correction. Political risk events on the horizon — including the Italian elections and the U.S. mid-terms, which could also bring about sudden bouts of turbulence.
The present correction (flash crash) is creating chances to re-invest positions sold in our US and European strategies, where we created cash positions during the past weeks. We do not bet on indices and are keeping our focus on single stock selection oriented investing.
Interest rates in Europe are still negative, and Equity dividend yields are above 3%.
Global GDP growth did not change overnight.
We are monitoring the markets closely, and shall follow up with our findings. Kind regards