Dividends beat bond yields – by a wide margin By now, the stock market boom is ten and a half years old and thus one

Bond markets: look like bubbles, smell like bubbles – are bubbles I am not aware of any economist who has ever predicted that whole yield

Sell in June and go away – a sensible strategy introductory remarks May is over, and I am late, so I had to replace the

Stocks and bonds are well supported, but increasingly expensive introductory remarks After the large correction of stock markets in the three months to the end

Almost everything is expensive For the first time in decades, the usually profitable investment strategy to diversify funds across asset classes – to do well

Strong headwinds Against a generally healthy economic backdrop there is a long list of open issues that have not only the potential to unsettle capital

Extremely expensive stocks and bonds  This is an analysis about potential triggers of the next global financial crisis. I am aware of Paul Samuelson’s dictum

Buoyant economies, overvalued equities Stock markets have corrected a lot since late January, but from a longer-term perspective, the correction has been modest so far.

“Draghi put” remains in place How will central banks react to the large correction of bond and stock markets that seems to be under way

Still the same story: strong growth, low inflation, exuberant stock markets Since inflation is mostly well below target in industrialized countries, central banks remain in

Stock markets move closer to a major correction Read the full article in PDF format: Wermuths_Investment_Outlook_29August2017

Deceptively calm markets Read the full article in PDF format: Wermuths_Investment_Outlook_16June2017