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(window.nzzDebugPiano) { console.log('##piano## pianoUpdateSalutation forceReload, because of source PIANOID'); } window.location.reload(); } } if (window.nzzDebugPiano) { console.log('##piano## pianoUpdateSalutation'); } let accountSalutation = null; if (field && field.value) { accountSalutation = field.value; } /* Determine values for new custom field for TEM (here called "salutation_text_TEM") */ let salutation_text_TEM = ''; if (accountSalutation === "[\"female\"]") { salutation_text_TEM = "Sehr geehrte Frau"; } else if (accountSalutation === "[\"male\"]") { salutation_text_TEM = "Sehr geehrter Herr"; } /* Update custom field with new value */ fetch(config.handlerUrl + new URLSearchParams({ aid: window.tp.aid, uid: data.uid, /* replace correct form ID and custom field ID */ form_id: config.salutationForm.formName, custom_fields: JSON.stringify({ salutation_text_TEM: salutation_text_TEM }) }), { method: 'POST', headers: { 'Authorization': window.tp.pianoId.getToken(), 'Content-Type': 'application/json; charset=UTF-8' } }).then(() => { if (window.nzzDebugPiano) { console.log(`##piano## salutation_text_TEM updated to ${salutation_text_TEM}`); } if (window.localStorage) { window.localStorage.setItem(`nzz-salutation`, data.uid); } }).catch(e => { if (window.nzzDebugPiano) { console.log(`##piano## salutation_text_TEM error: ${e}`); } }).finally(() => { if (forceReload) { if (window.nzzDebugPiano) { console.log('##piano## pianoUpdateSalutation forceReload, because of source PIANOID'); } window.location.reload(); } });}; ((bT, clientCountryPreference, config) => { let tags = []; if (bT && bT.standard) { Object.keys(bT.standard).forEach(key => { tags.push([`set${key}`, bT.standard[key]]); }); } if (bT && bT.custom) { Object.keys(bT.custom).forEach(key => { tags.push(['setCustomVariable', key, bT.custom[key]]); }); } return function pianoMain() { if (!window.tp) { window.tp = window.tp || []; window.digitalData = window.digitalData || {}; window.digitalData.user = [{ profile: [{ attributes: { piano: { clientCountryCode: clientCountryPreference || 'CH' } }, profileInfo: { profileID: '', gender: '', userHash: '4defa01e671ab8c019597a9b2cc3d662' } }] }]; /* Set Application ID */ if (window.nzzDebugPiano) { console.log('%c ##piano## :VERSION V43', 'background: yellow;color:black'); } window.tp.push(['setAid', config.aid]); if (config.dmpSiteId) { window.tp.push(['setCxenseSiteId', config.dmpSiteId]); } /* Is application in sandbox */ window.tp.push(['setSandbox', config.isSandbox === 'true']); /* Does application use Piano ID? */ if (config.isSandbox === 'false') { window.tp.push(['setPianoIdUrl', 'https://id-eu.piano.io']); window.tp.push(['setEndpoint', 'https://buy-eu.piano.io/api/v3']); } else { window.tp.push(['setPianoIdUrl', 'https://sandbox.piano.io']); window.tp.push(['setEndpoint', 'https://sandbox.tinypass.com/api/v3']); } window.tp.push(['setUseTinypassAccounts', false]); window.tp.push(['setUsePianoIdUserProvider', true]); /* gift article */ try { const urlParams = new URLSearchParams(window.location.search); if (urlParams.has('gift_created') && new Date(urlParams.get('gift_created') / 1 * 1000) > Date.now() - 7 * 24 * 60 * 60 * 1000) { window.tp.push(['setCustomVariable', 'shared_article_valid', 'true']); } } catch (e) { console.log(e); } /* Execute when the page is first loaded */ if (window.nzzDebugPiano) { console.log('%c set tags', 'background: yellow;color:black'); } tags.forEach(function (tag) { window.tp.push(tag); }); window.tp.push(['init', function () { if (window.nzzDebugPiano) { console.log('%c init piano', 'background: green;color:yellow'); } window.nzzPianoLoaded = true; window.tp.push(['addHandler', 'registrationSuccess', data => { if (window.nzzDebugPiano) { console.log('##piano## registrationSuccess:'); } fetch(config.handlerUrl + new URLSearchParams({ aid: window.tp.aid, uid: data.user.sub, form_id: config.RSEvent.formName, custom_fields: JSON.stringify(config.RSEvent.params) }), { method: 'POST', headers: { 'Authorization': data.token, 'Content-Type': 'application/json; charset=UTF-8' } }); }]); window.tp.push(['addHandler', 'loginSuccess', callbackData => { if (window.nzzDebugPiano) { console.log('##piano## loginSuccess in init', callbackData.source); } window.tp.pianoId.loadExtendedUser({ extendedUserLoaded: function (data) { if (window.nzzDebugPiano) { console.log('##piano## extendedUserLoaded for salutation', data); } let salutationField = null; const customFieldValues = data.custom_field_values; if (customFieldValues && customFieldValues.length > 0) { for (const field of customFieldValues) { if (field.field_name === "account_salutation") { salutationField = field; } } } let forceReload = false; if (callbackData.source == "PIANOID") { forceReload = true; } pianoUpdateSalutation(config, data, salutationField, forceReload); }, formName: 'salutation_form' }); }]); window.tp.push(['addHandler', 'checkoutCustomEvent', event => { if (window.nzzDebugPiano) { console.log('##piano## onCheckoutExternalEvent'); } const params = JSON.parse(event.params.params); if (event.eventName === 'purchaseCustom' && params.pmId == 'inbas') { if (window.nzzDebugPiano) { console.log('##piano## onCheckoutExternalEvent: Invoice payments'); } fetch(config.handlerUrl + new URLSearchParams({ aid: window.tp.aid, uid: window.tp.pianoId.getUser().uid, form_id: config.CEEvent.formName, custom_fields: JSON.stringify(config.CEEvent.params) }), { method: 'POST', headers: { 'Authorization': window.tp.pianoId.getToken(), 'Content-Type': 'application/json; charset=UTF-8' } }); } else if (event.eventName == 'purchaseCustom' && params.pmId == 'inbaf') { if (window.nzzDebugPiano) { console.log('##piano## onCheckoutExternalEvent: inbaf'); } fetch(config.handlerUrl + new URLSearchParams({ aid: window.tp.aid, uid: window.tp.pianoId.getUser().uid, form_id: config.CEEventInbaf.formName, custom_fields: JSON.stringify(config.CEEventInbaf.params) }), { method: 'POST', headers: { 'Authorization': window.tp.pianoId.getToken(), 'Content-Type': 'application/json; charset=UTF-8' } }); } }]); window.tp.push(['addHandler', 'checkoutClose', event => { if (event && event.state == "checkoutCompleted") { window.location.reload(); } }]); window.tp.push(['addHandler', 'externalCheckoutComplete', event => { /* Default behavior is to refresh the page on successful checkout */ if (event && event.state == "checkoutCompleted") { location.reload(); } }]); window.tp.push(['addHandler', 'customEvent', event => { if (window.nzzDebugPiano) { console.log(`##piano## customEvent: ${event.eventName}`); } if (event.eventName === 'terms-accepted') { fetch(config.handlerUrl + new URLSearchParams({ aid: window.tp.aid, uid: window.tp.pianoId.getUser().uid, form_id: config.CETermsAccepted.formName, custom_fields: JSON.stringify(config.CETermsAccepted.params) }), { method: 'POST', headers: { 'Authorization': window.tp.pianoId.getToken(), 'Content-Type': 'application/json; charset=UTF-8' } }).then(() => { if (window.nzzDebugPiano) { console.log('##piano## customEvent triggered: fetch done'); } }).catch(err => console.log(err)); window.tp.offer.close(); } if (window.nzzDebugPiano) { console.log(`##piano## customEvent triggered3: ${event.eventName}`); } }]); window.tp.push(['addHandler', 'showOffer', offerParams => { if (window.digitalData && window.digitalData.component && typeof window.digitalData.component.push == 'function') { window.digitalData.component.push({ componentInfo: { componentID: offerParams.offerId, componentName: offerParams.offerId }, category: { primaryCategory: 'offer', componentType: 'offer' }, attributes: { pianoComposerExperienceId: offerParams.experienceId } }); } if (window.digitalData && window.digitalData.event && typeof window.digitalData.event.push == 'function') { window.digitalData.event.push({ eventInfo: { eventName: 'Offer Interaction', eventAction: 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eventValue: '', eventNonInteractive: false, type: 'template', componentID: templateParams.templateId, componentName: templateParams.templateId, timeStamp: new Date().toISOString() }, category: { primaryCategory: 'template', subCategory1: '', subCategory2: '', subCategory3: '' } }); } }]); window.tp.push(["init", function () { window.tp.pianoId.init({ displayMode: 'modal' }); }]); }]); } if (window.tp && window.callInit) { if (window.nzzDebugPiano) { console.log(`%c reset tags: piano-init-${window.digitalData.page.pageInfo.pageID}`, 'background: yellow;color:black'); } tags.forEach(function (tag) { window.tp.push(tag); }); } };})( 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teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="Focus on the Top Line – The Bottom Line Will Follow" src="https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=3698,3698,x159,y0" loading="eager" srcset="https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=3698,3698,x159,y0 120w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=3698,3698,x159,y0 240w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=3698,3698,x159,y0 80w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=3698,3698,x159,y0 160w" width="3698" height="3698" class="image-placeholder__image poster__image">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/thierry-borgeat-on-investing-focus-on-the-top-line-ld.13115" data-nzz-referrer="teaserLink" ordinal-number="1" class="teaser__link"><div class="teaser__wrapper">   <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--0">  <span class="teaser__title-name teaser__title-name--waiting">Focus on the Top Line – The Bottom Line Will Follow</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">What if the secret to finding winners was not to chase net profits, but to focus on sales growth? Steve Jobs’ 1997 mantra turned Apple around – and it’s a principle that every investor needs to understand to find the next compounder.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Thierry Borgeat</span> <time datetime="2025-02-11T03:28:54.041Z" class="metainfo__item metainfo__item--date">11.02.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_13100" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="2" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/english/howard-marks-the-idea-that-the-market-is-always-right-is-crazy-ld.13100" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«Investing is not about buying good things, but about buying things well – and if you don’t understand the difference, you shouldn’t be an investor»: Howard Marks. (Photo: Bloomberg)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2025/01/31/19b44864-c8b2-4e85-bfe0-b5106806cf80.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=3023,2267,x138,y0 240w, https://img.themarket.ch/2025/01/31/19b44864-c8b2-4e85-bfe0-b5106806cf80.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=3023,2267,x138,y0 480w" width="3023" height="2267" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/english/howard-marks-the-idea-that-the-market-is-always-right-is-crazy-ld.13100" data-nzz-referrer="teaserLink" ordinal-number="2" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--1">  <span class="teaser__title-name teaser__title-name--waiting">Howard Marks: «The Idea That the Market Is Always Right Is Crazy»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Greed and fear are powerful drivers in financial markets. Few understand their impact better than Howard Marks. In this interview, the renowned value investor explains why market excesses keep happening, shares his thoughts on the current hype around artificial intelligence, and reveals where investors might find bargains.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Christoph Gisiger</span> <time datetime="2025-02-03T01:18:45.668Z" class="metainfo__item metainfo__item--date">03.02.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12814" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="3" class="teaser teaser__layout--opinion teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-opinion"><figure class="poster__figure poster__figure--image"><a href="/meinung/bureaucracy-vs-corruption-two-sides-of-the-same-coin-ld.12814" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="Bureaucracy vs. Corruption – Two Sides of the Same Coin" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2020/10/22/b04510fb-3543-435c-91cd-0b0fccd29880.jpeg?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=2343,2343,x19,y134 120w, https://img.themarket.ch/2020/10/22/b04510fb-3543-435c-91cd-0b0fccd29880.jpeg?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=2343,2343,x19,y134 240w, https://img.themarket.ch/2020/10/22/b04510fb-3543-435c-91cd-0b0fccd29880.jpeg?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=2343,2343,x19,y134 80w, https://img.themarket.ch/2020/10/22/b04510fb-3543-435c-91cd-0b0fccd29880.jpeg?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=2343,2343,x19,y134 160w" width="2343" height="2343" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/bureaucracy-vs-corruption-two-sides-of-the-same-coin-ld.12814" data-nzz-referrer="teaserLink" ordinal-number="3" class="teaser__link"><div class="teaser__wrapper">   <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--2">  <span class="teaser__title-name teaser__title-name--waiting">Bureaucracy vs. Corruption – Two Sides of the Same Coin</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">The terms «bureaucracy» and «corruption» often evoke distinct images. However, upon closer examination, these two phenomena share crucial similarities: they are united by their ability to misallocate resources, distort economic incentives, and erode public trust.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Alexander M. Ineichen</span> <time datetime="2025-01-16T02:32:14.886Z" class="metainfo__item metainfo__item--date">16.01.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12890" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="4" class="teaser teaser__layout--opinion teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-opinion"><figure class="poster__figure poster__figure--image"><a href="/meinung/charles-biderman-a-storm-is-brewing-in-the-financial-markets-ld.12890" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="A Storm Is Brewing" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2025/01/11/6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=749,749,x494,y163 120w, https://img.themarket.ch/2025/01/11/6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=749,749,x494,y163 240w, https://img.themarket.ch/2025/01/11/6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=749,749,x494,y163 80w, https://img.themarket.ch/2025/01/11/6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=749,749,x494,y163 160w" width="749" height="749" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/charles-biderman-a-storm-is-brewing-in-the-financial-markets-ld.12890" data-nzz-referrer="teaserLink" ordinal-number="4" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-opinion"><span class="teaser__flag--text"> English </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--3">  <span class="teaser__title-name teaser__title-name--waiting">A Storm Is Brewing</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">The US budget deficit is likely to surge under the new Trump administration, sparking concerns about the stability of the bond market. This, in turn, may have a ripple effect on equities and cryptocurrencies.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Charles Biderman</span> <time datetime="2025-01-12T23:33:31.077Z" class="metainfo__item metainfo__item--date">13.01.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12819" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="5" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/english/larry-mcdonald-well-see-an-interest-rate-shock-ld.12819" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«If inflation normalizes at a level of around 3.5%, investors will want to own companies that have hard assets in the ground»: Larry McDonald." src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/12/31/1f7dc9b8-feaf-4c91-8be8-c0cbc002c6fb.png?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=721,541,x0,y37 240w, https://img.themarket.ch/2024/12/31/1f7dc9b8-feaf-4c91-8be8-c0cbc002c6fb.png?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=721,541,x0,y37 480w" width="721" height="541" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/english/larry-mcdonald-well-see-an-interest-rate-shock-ld.12819" data-nzz-referrer="teaserLink" ordinal-number="5" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--4">  <span class="teaser__title-name teaser__title-name--waiting">«We’ll See an Interest Rate Shock as Early as the First Quarter»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Larry McDonald, creator of «The Bear Traps Report» and New York Times best-selling author, cautions that markets are severely underestimating the threat of persistent inflation. He explains what investors should prepare for in the new year and why commodity stocks will make a comeback.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Christoph Gisiger</span> <time datetime="2025-01-05T20:50:31.694Z" class="metainfo__item metainfo__item--date">05.01.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12793" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="6" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/michael-b-ohiggins-i-prefer-the-dogs-of-the-world-ld.12793" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«Any simple strategy that becomes overly popular is likely to underperform until its popularity declines»: Michael B. O'Higgins. (Photo: O'Higgins AM)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/12/27/b9ee7860-617d-4aaf-9a98-eaf9db72cfe4.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=2995,2246,x0,y119 240w, https://img.themarket.ch/2024/12/27/b9ee7860-617d-4aaf-9a98-eaf9db72cfe4.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=2995,2246,x0,y119 480w" width="2995" height="2246" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/michael-b-ohiggins-i-prefer-the-dogs-of-the-world-ld.12793" data-nzz-referrer="teaserLink" ordinal-number="6" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--5">  <span class="teaser__title-name teaser__title-name--waiting">Michael B. O'Higgins: «I prefer the Dogs of the World»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">The inventor of the dividend strategy «Dogs of the Dow» explains why he no longer uses it himself in its original form and prefers to rely on other methods.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Ulrich W. Hanke ✉</span> <time datetime="2025-01-03T02:20:06.059Z" class="metainfo__item metainfo__item--date">03.01.2025</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12782" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="7" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/louis-gave-gavekal-us-equities-are-very-much-priced-for-perfection-ld.12782" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«If Europe does hit the skids, then capital will flow into Treasuries. Europe’s weakness strengthens the US exceptionalism narrative»: Louis Gave. (Pictures: Laurent Burst)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2022/12/21/0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=1777,1333,x0,y0 240w, https://img.themarket.ch/2022/12/21/0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=1777,1333,x0,y0 480w" width="1777" height="1333" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/louis-gave-gavekal-us-equities-are-very-much-priced-for-perfection-ld.12782" data-nzz-referrer="teaserLink" ordinal-number="7" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--6">  <span class="teaser__title-name teaser__title-name--waiting">«The U.S. Equity Market Is Very Much Priced for Perfection»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Louis-Vincent Gave, CEO and co-founder of Gavekal Research, talks about his expectations for the incoming Trump Administration, the possibility of a grand bargain between the USA and China, and his investment outlook for 2025.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Mark Dittli</span> <time datetime="2024-12-24T02:46:53.256Z" class="metainfo__item metainfo__item--date">24.12.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12714" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="8" class="teaser teaser__layout--opinion teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-opinion"><figure class="poster__figure poster__figure--image"><a href="/meinung/thierry-borgeat-the-illusion-of-safety-in-diversification-ld.12714" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="The Illusion of Safety in Diversification" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=3698,3698,x178,y0 120w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=3698,3698,x178,y0 240w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=3698,3698,x178,y0 80w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=3698,3698,x178,y0 160w" width="3698" height="3698" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/thierry-borgeat-the-illusion-of-safety-in-diversification-ld.12714" data-nzz-referrer="teaserLink" ordinal-number="8" class="teaser__link"><div class="teaser__wrapper">   <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--7">  <span class="teaser__title-name teaser__title-name--waiting">The Illusion of Safety in Diversification</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">Reducing risk while enhancing returns sounds like a perfect dream. But what if diversification, our supposed safety net, is holding us back? Let’s rethink investing: it's not about owning more but owning better.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Thierry Borgeat</span> <time datetime="2024-12-22T23:47:53.908Z" class="metainfo__item metainfo__item--date">23.12.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12718" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="9" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/russell-napier-we-are-headed-towards-a-system-of-national-capitalism-ld.12718" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«Historically, every thirty or forty years monetary systems collapse. The current one, the one we have lived with since 1994, is collapsing in front of our eyes»: Russell Napier." src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2022/10/12/2e582822-a96c-4a39-ab13-db9ab93472ec.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=3101,2326,x0,y775 240w, https://img.themarket.ch/2022/10/12/2e582822-a96c-4a39-ab13-db9ab93472ec.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=3101,2326,x0,y775 480w" width="3101" height="2326" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/russell-napier-we-are-headed-towards-a-system-of-national-capitalism-ld.12718" data-nzz-referrer="teaserLink" ordinal-number="9" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--8">  <span class="teaser__title-name teaser__title-name--waiting">«We Are Headed Towards a System of National Capitalism»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Market strategist and historian Russell Napier outlines a future in which governments mandate where investors should deploy their capital. The global monetary system that has existed since 1994 is being radically restructured.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Mark Dittli ✉️</span> <time datetime="2024-12-13T13:03:08.699Z" class="metainfo__item metainfo__item--date">13.12.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12580" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="10" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/interest-rates-are-not-sticking-to-the-central-banks-script-ld.12580" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«I’m worried about the burden of debt that has accumulated, facilitated and even encouraged by exceptionally low interest rates over the past decade and a half»: Jim Grant. (Bild: Bloomberg)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/11/23/8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=3556,2667,x359,y0 240w, https://img.themarket.ch/2024/11/23/8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=3556,2667,x359,y0 480w" width="3556" height="2667" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/interest-rates-are-not-sticking-to-the-central-banks-script-ld.12580" data-nzz-referrer="teaserLink" ordinal-number="10" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--9">  <span class="teaser__title-name teaser__title-name--waiting">«Interest Rates Are not Sticking to the Central Banks’ Script»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Despite the Fed easing monetary policy, the bond market is not willing to play along. Jim Grant, editor of «Grant’s Interest Rate Observer», explains why the renewed rise in yields is worrying and why he is bullish on precious metals and value stocks.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Christoph Gisiger and Mark Dittli</span> <time datetime="2024-11-28T03:14:42.068Z" class="metainfo__item metainfo__item--date">28.11.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12510" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="11" class="teaser teaser__layout--opinion teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-opinion"><figure class="poster__figure poster__figure--image"><a href="/meinung/valuation-does-not-matter-until-it-does-ld.12510" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="Valuation Does not Matter – Until it Does" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=3698,3698,x234,y0 120w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=3698,3698,x234,y0 240w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=3698,3698,x234,y0 80w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=3698,3698,x234,y0 160w" width="3698" height="3698" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/valuation-does-not-matter-until-it-does-ld.12510" data-nzz-referrer="teaserLink" ordinal-number="11" class="teaser__link"><div class="teaser__wrapper">   <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--10">  <span class="teaser__title-name teaser__title-name--waiting">Valuation Does not Matter – Until it Does</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">Businesses can fire on all cylinders, and yet a lost decade for their share price can loom as valuations stretch beyond reason. The lesson? History shows valuation does not matter – until, suddenly, it does.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Thierry Borgeat</span> <time datetime="2024-11-19T03:04:03.015Z" class="metainfo__item metainfo__item--date">19.11.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12529" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="12" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/marko-papic-donald-trump-will-be-disciplined-by-the-bond-market-ld.12529" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«Voters didn’t elect Trump to begin a massive trade war. Especially in the context of prices, as tariffs would increase price levels»: Marko Papic. (Photo: Bloomberg)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2023/07/14/0147436a-271f-4cf1-9024-b2578e8cad28.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=3036,2277,x405,y55 240w, https://img.themarket.ch/2023/07/14/0147436a-271f-4cf1-9024-b2578e8cad28.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=3036,2277,x405,y55 480w" width="3036" height="2277" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/marko-papic-donald-trump-will-be-disciplined-by-the-bond-market-ld.12529" data-nzz-referrer="teaserLink" ordinal-number="12" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--11">  <span class="teaser__title-name teaser__title-name--waiting">«President Trump Is Going to Be Disciplined by the Bond Market»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Marko Papic, Chief Strategist at BCA Research, warns that rising interest rates could stall the rally in equities. President Trump will focus on his true mandates and that does not necessarily mean a massive trade war.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Mark Dittli</span> <time datetime="2024-11-15T13:18:54.489Z" class="metainfo__item metainfo__item--date">15.11.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12488" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="13" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/english/its-time-to-position-the-portfolio-for-rising-yields-and-a-stronger-dollar-ld.12488" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«I don’t know if everybody is ready for the idea that by the end of the year the Fed’s whole interest rate cutting campaign will be mostly if not completely done»: Jim Bianco. (Photo: Bloomberg)" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/11/07/27fcd49c-f043-44f2-b393-b004be94167d.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=5199,3899,x554,y0 240w, https://img.themarket.ch/2024/11/07/27fcd49c-f043-44f2-b393-b004be94167d.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=5199,3899,x554,y0 480w" width="5199" height="3899" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/english/its-time-to-position-the-portfolio-for-rising-yields-and-a-stronger-dollar-ld.12488" data-nzz-referrer="teaserLink" ordinal-number="13" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--12">  <span class="teaser__title-name teaser__title-name--waiting">«It’s Time to Position the Portfolio for Rising Yields and a Stronger Dollar»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Donald Trump’s election and the Republican red sweep are setting financial markets in motion. Jim Bianco, President and Macro Strategist at Bianco Research, believes that the change of power in Washington will give the US economy a fresh boost. However, it also poses the risk of inflation flaring up again, which will be a challenge for investors.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Christoph Gisiger</span> <time datetime="2024-11-11T01:54:00.983Z" class="metainfo__item metainfo__item--date">11.11.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12448" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="14" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/english/in-terms-of-inflation-the-beast-is-not-tamed-ld.12448" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«It’s a little too early to tell whether it’s a soft landing or a no landing, but it sure doesn’t look like a hard landing»: Jeffrey Sherman (left) and Bill Campbell." src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/11/04/f65b94a8-2c45-4cb9-b748-4f8e4683ab78.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=3555,2666,x223,y0 240w, https://img.themarket.ch/2024/11/04/f65b94a8-2c45-4cb9-b748-4f8e4683ab78.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=3555,2666,x223,y0 480w" width="3555" height="2666" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/english/in-terms-of-inflation-the-beast-is-not-tamed-ld.12448" data-nzz-referrer="teaserLink" ordinal-number="14" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--13">  <span class="teaser__title-name teaser__title-name--waiting">«In Terms of Inflation, the Beast is not Tamed»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Jeffrey Sherman and Bill Campbell, investment managers at DoubleLine, expect price pressures in the US economy to continue. They explain what the presidential election means for the economy and financial markets – and where they spot attractive opportunities for investments.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Christoph Gisiger</span> <time datetime="2024-11-05T03:32:00.337Z" class="metainfo__item metainfo__item--date">05.11.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12184" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="15" class="teaser teaser__layout--regular teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-regular"><figure class="poster__figure poster__figure--image"><a href="/interview/joerg-wuttke-china-hopes-that-trumps-america-will-turn-its-back-on-the-world-ld.12184" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:75%;"><img alt="«Beijing is very enthusiastic about the fact that Trump will question NATO and America’s aid for Ukraine»: Joerg Wuttke." src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2024/07/04/8aca0496-3321-41e8-bb50-1adeae9ef08f.jpeg?width=240&height=180&fit=bounds&quality=75&auto=webp&crop=2516,1887,x836,y826 240w, https://img.themarket.ch/2024/07/04/8aca0496-3321-41e8-bb50-1adeae9ef08f.jpeg?width=480&height=360&fit=bounds&quality=75&auto=webp&crop=2516,1887,x836,y826 480w" width="2516" height="1887" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/interview/joerg-wuttke-china-hopes-that-trumps-america-will-turn-its-back-on-the-world-ld.12184" data-nzz-referrer="teaserLink" ordinal-number="15" class="teaser__link"><div class="teaser__wrapper">  <div class="teaser__flag teaser__flag--colored teaser__flag--paginated teaser__flag--paginated-regular"><span class="teaser__flag--text"> Interview </span> </div> <h2 class="teaser__title teaser__title--paginated teaser__title--regular teaser__title--14">  <span class="teaser__title-name teaser__title-name--waiting">«China Hopes That America Under Trump Will Turn its Back on the World»</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--regular">Joerg Wuttke, Partner at consulting agency DGA and former President of the EU Chamber of Commerce in China, on the latest stimulus measures from Beijing and how the US elections will influence the relationship between the US and China.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--regular"><div class="metainfo__main metainfo__main--regular"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Mark Dittli</span> <time datetime="2024-10-08T02:45:59.877Z" class="metainfo__item metainfo__item--date">08.10.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--regular ">  </div></div> </div></div></article><article data-source-element-widget="" class="teaser--article teaser--paginated "><div id="id-ld_12158" data-nzz-tid="teaser" data-nzz-cid="doc-1dcesqu330" data-nzz-cp="1" data-nzz-ct="English" data-nzz-pic="16" class="teaser teaser__layout--opinion teaser--size-paginated">    <div flag-item="[object Object]" flag-size="paginated" class="poster poster--paginated poster--paginated-opinion"><figure class="poster__figure poster__figure--image"><a href="/meinung/thierry-borgeat-risk-vs-reward-your-margin-of-safety-is-razor-thin-ld.12158" data-nzz-referrer="teaserLink" class="teaser__link teaser__link--poster teaser__link--poster-paginated"><div class="image-placeholder poster__placeholder" style="padding-bottom:100%;"><img alt="Risk vs. Reward: Your Margin of Safety is Razor-Thin" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" loading="lazy" srcset="https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=120&height=120&fit=bounds&quality=75&auto=webp&crop=3698,3698,x220,y0 120w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=240&height=240&fit=bounds&quality=75&auto=webp&crop=3698,3698,x220,y0 240w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=80&height=80&fit=bounds&quality=75&auto=webp&crop=3698,3698,x220,y0 80w, https://img.themarket.ch/2023/12/05/de00f978-2021-434b-87f0-49d9d7abcb05.png?width=160&height=160&fit=bounds&quality=75&auto=webp&crop=3698,3698,x220,y0 160w" width="3698" height="3698" class="image-placeholder__image poster__image cb-it-hide">    </div></a></figure></div>  <div class="teaser__content teaser__content--paginated"><a href="/meinung/thierry-borgeat-risk-vs-reward-your-margin-of-safety-is-razor-thin-ld.12158" data-nzz-referrer="teaserLink" ordinal-number="16" class="teaser__link"><div class="teaser__wrapper">   <h2 class="teaser__title teaser__title--paginated teaser__title--opinion teaser__title--15">  <span class="teaser__title-name teaser__title-name--waiting">Risk vs. Reward: Your Margin of Safety is Razor-Thin</span></h2>  <div class="teaser__lead teaser__lead--paginated teaser__lead--opinion">The market’s over-reliance on a few giants is skewing risk-reward dynamics, squeezing your margin of safety to a razor-thin line. High valuations, shrinking diversification, and misplaced capital challenge investors to rethink conventional strategies.</div> </div>  </a> <div bookmark-type="article" bookmark-sub-type="teaser" class="metainfo metainfo--paginated metainfo--opinion"><div class="metainfo__main metainfo__main--opinion"> <div class="metainfo__wrapper"> <span class="metainfo__item metainfo__item--author">Thierry Borgeat</span> <time datetime="2024-10-03T01:42:00.829Z" class="metainfo__item metainfo__item--date">03.10.2024</time>   </div> </div> <div class="metainfo__actions metainfo__actions--opinion ">  </div></div> </div></div></article> </div><div data-nzz-tid="widget-1of3" data-source-element-widget="Widget-1/3-Breite" id="id-doc-1gf11q8ll0" content="" pagetype="Page" componenttype="widget--1of3-flex" class="widget--1of3"> <div class="first">  <div class="widget__area"><div class="widget widget--iframe"></div></div></div><div>  <div class="widget__area"><div class="widget widget--iframe"></div></div></div><div>  <div class="widget__area"><div class="widget widget--iframe"></div></div></div></div></div></div></section></div><div id="contdoc-1dcmjekon0-430" never="" class="elementwrap"><div id="" content="" pagetype="Page" componenttype="billboard" is-new-line-child="true" class="pageelement pageelement--advertisement"><div class="resor"><div id="adnz_billboard_2" data-hydrated="0" class="resor__item"></div></div></div></div> </section></div></div> <div id="footer" class="footer"> <div class="footer__section"><h2 class="footer__section--title"> </h2> <ul class="footer__section--list"><li class="footer__item"><a href="https://abo.themarket.ch/kontakt/" data-nzz-referrer="footermenuLevel1" data-nzz-tid="menu-level-1" class="footer__link"> Abo-Service </a></li><li class="footer__item"><a href="/agb" data-nzz-referrer="footermenuLevel1" data-nzz-tid="menu-level-1" class="footer__link"> AGB/Datenschutz </a></li><li class="footer__item"><a href="/impressum" data-nzz-referrer="footermenuLevel1" data-nzz-tid="menu-level-1" class="footer__link"> Impressum </a></li><li class="footer__item"><a href="https://themarket.ch/feedback" data-nzz-referrer="footermenuLevel1" data-nzz-tid="menu-level-1" class="footer__link"> Feedback </a></li></ul></div> <div class="footer__print"> Copyright © The Market Media AG. 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O'Higgins: «I prefer the Dogs of the World»","Mark Dittli",2562,"«In Terms of Inflation, the Beast is not Tamed»","judi.idms-widget","idms","idms-widget",430,"category","https:\u002F\u002Fthemarket.ch","Page","The Market abonnieren","Startseite","\u002F","\u003Cp\u003EEs ist ein Fehler aufgetreten. Bitte prüfen Sie Ihre Internetverbindung oder versuchen Sie es später erneut.\u003C\u002Fp\u003E","bellevue","Focus on the Top Line – The Bottom Line Will Follow",12714,"What if the secret to finding winners was not to chase net profits, but to focus on sales growth? Steve Jobs’ 1997 mantra turned Apple around – and it’s a principle that every investor needs to understand to find the next compounder.","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,2340,x0,y474&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=3698,3698,x159,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,3120,x0,y177&width=1024&quality=75&auto=webp","2025-02-11T03:28:54.041Z","Greed and fear are powerful drivers in financial markets. Few understand their impact better than Howard Marks. In this interview, the renowned value investor explains why market excesses keep happening, shares his thoughts on the current hype around artificial intelligence, and reveals where investors might find bargains.",3400,2267,"https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F31\u002F19b44864-c8b2-4e85-bfe0-b5106806cf80.jpeg?crop=3400,1912,x0,y183&width=1024&quality=75&auto=webp",2015,"https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F31\u002F19b44864-c8b2-4e85-bfe0-b5106806cf80.jpeg?crop=2015,2015,x770,y172&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F31\u002F19b44864-c8b2-4e85-bfe0-b5106806cf80.jpeg?crop=3023,2267,x138,y0&width=1024&quality=75&auto=webp","«Investing is not about buying good things, but about buying things well – and if you don’t understand the difference, you shouldn’t be an investor»: Howard Marks.","2025-02-03T01:18:45.668Z",2,"Bureaucracy vs. Corruption – Two Sides of the Same Coin","The terms «bureaucracy» and «corruption» often evoke distinct images. However, upon closer examination, these two phenomena share crucial similarities: they are united by their ability to misallocate resources, distort economic incentives, and erode public trust.","https:\u002F\u002Fimg.themarket.ch\u002F2020\u002F10\u002F22\u002Fb04510fb-3543-435c-91cd-0b0fccd29880.jpeg?crop=2636,1483,x0,y653&width=1024&quality=75&auto=webp",2343,"https:\u002F\u002Fimg.themarket.ch\u002F2020\u002F10\u002F22\u002Fb04510fb-3543-435c-91cd-0b0fccd29880.jpeg?crop=2343,2343,x19,y134&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2020\u002F10\u002F22\u002Fb04510fb-3543-435c-91cd-0b0fccd29880.jpeg?crop=2636,1977,x0,y297&width=1024&quality=75&auto=webp","2025-01-16T02:32:14.886Z",3,"A Storm Is Brewing","Charles Biderman","The US budget deficit is likely to surge under the new Trump administration, sparking concerns about the stability of the bond market. This, in turn, may have a ripple effect on equities and cryptocurrencies.","https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F11\u002F6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?crop=1422,800,x113,y149&width=1024&quality=75&auto=webp",749,"https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F11\u002F6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?crop=749,749,x494,y163&width=1024&quality=75&auto=webp",139,"https:\u002F\u002Fimg.themarket.ch\u002F2025\u002F01\u002F11\u002F6a1d67ef-1298-44b6-98a2-22b6ac97bbc1.jpeg?crop=1124,843,x249,y139&width=1024&quality=75&auto=webp","2025-01-12T23:33:31.077Z","Larry McDonald, creator of «The Bear Traps Report» and New York Times best-selling author, cautions that markets are severely underestimating the threat of persistent inflation. He explains what investors should prepare for in the new year and why commodity stocks will make a comeback.","«We’ll See an Interest Rate Shock as Early as the First Quarter»",32,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F31\u002F1f7dc9b8-feaf-4c91-8be8-c0cbc002c6fb.png?crop=721,406,x0,y32&width=1024&quality=75&auto=webp",36,450,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F31\u002F1f7dc9b8-feaf-4c91-8be8-c0cbc002c6fb.png?crop=450,450,x140,y36&width=1024&quality=75&auto=webp",37,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F31\u002F1f7dc9b8-feaf-4c91-8be8-c0cbc002c6fb.png?crop=721,541,x0,y37&width=1024&quality=75&auto=webp",54,"«If inflation normalizes at a level of around 3.5%, investors will want to own companies that have hard assets in the ground»: Larry McDonald.","2025-01-05T20:50:31.694Z",5,"The inventor of the dividend strategy «Dogs of the Dow» explains why he no longer uses it himself in its original form and prefers to rely on other methods.","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F27\u002Fb9ee7860-617d-4aaf-9a98-eaf9db72cfe4.jpeg?crop=2995,1685,x0,y139&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F27\u002Fb9ee7860-617d-4aaf-9a98-eaf9db72cfe4.jpeg?crop=2365,2365,x424,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F12\u002F27\u002Fb9ee7860-617d-4aaf-9a98-eaf9db72cfe4.jpeg?crop=2995,2246,x0,y119&width=1024&quality=75&auto=webp","Photo: O'Higgins AM","«Any simple strategy that becomes overly popular is likely to underperform until its popularity declines»: Michael B. O'Higgins.","2025-01-03T02:20:06.059Z","«The U.S. Equity Market Is Very Much Priced for Perfection»","Louis-Vincent Gave, CEO and co-founder of Gavekal Research, talks about his expectations for the incoming Trump Administration, the possibility of a grand bargain between the USA and China, and his investment outlook for 2025.","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F12\u002F21\u002F0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?width=1024&quality=75&auto=webp",2000,"https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F12\u002F21\u002F0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?crop=2000,1125,x0,y37&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F12\u002F21\u002F0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?crop=1333,1333,x226,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F12\u002F21\u002F0b4e2dfa-6965-4803-8dfb-d597a01187c2.jpeg?crop=1777,1333,x0,y0&width=1024&quality=75&auto=webp","Pictures: Laurent Burst","«If Europe does hit the skids, then capital will flow into Treasuries. Europe’s weakness strengthens the US exceptionalism narrative»: Louis Gave.","2024-12-24T02:46:53.256Z",7,"The Illusion of Safety in Diversification",12510,"Reducing risk while enhancing returns sounds like a perfect dream. But what if diversification, our supposed safety net, is holding us back? Let’s rethink investing: it's not about owning more but owning better.","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,2340,x0,y511&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=3698,3698,x178,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,3120,x0,y130&width=1024&quality=75&auto=webp","2024-12-22T23:47:53.908Z",8,"«We Are Headed Towards a System of National Capitalism»","Market strategist and historian Russell Napier outlines a future in which governments mandate where investors should deploy their capital. The global monetary system that has existed since 1994 is being radically restructured.","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F10\u002F12\u002F2e582822-a96c-4a39-ab13-db9ab93472ec.jpeg?crop=3101,1744,x0,y1066&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F10\u002F12\u002F2e582822-a96c-4a39-ab13-db9ab93472ec.jpeg?crop=3101,3101,x0,y388&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2022\u002F10\u002F12\u002F2e582822-a96c-4a39-ab13-db9ab93472ec.jpeg?crop=3101,2326,x0,y775&width=1024&quality=75&auto=webp","«Historically, every thirty or forty years monetary systems collapse. The current one, the one we have lived with since 1994, is collapsing in front of our eyes»: Russell Napier.","2024-12-13T13:03:08.699Z",9,"Despite the Fed easing monetary policy, the bond market is not willing to play along. Jim Grant, editor of «Grant’s Interest Rate Observer», explains why the renewed rise in yields is worrying and why he is bullish on precious metals and value stocks.","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F23\u002F8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?width=1024&quality=75&auto=webp",2250,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F23\u002F8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?crop=4000,2250,x0,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F23\u002F8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?crop=2667,2667,x1095,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F23\u002F8038bd18-50f7-45f0-93fd-be23a872908d.jpeg?crop=3556,2667,x359,y0&width=1024&quality=75&auto=webp","«Interest Rates Are not Sticking to the Central Banks’ Script»","Bild: Bloomberg","«I’m worried about the burden of debt that has accumulated, facilitated and even encouraged by exceptionally low interest rates over the past decade and a half»: Jim Grant.","2024-11-28T03:14:42.068Z",10,"Valuation Does not Matter – Until it Does",12158,"Businesses can fire on all cylinders, and yet a lost decade for their share price can loom as valuations stretch beyond reason. The lesson? History shows valuation does not matter – until, suddenly, it does.","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,2340,x0,y548&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=3698,3698,x234,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,3120,x0,y235&width=1024&quality=75&auto=webp","Source: Creative Planning, Charlie Bilello","Source: Koyfin","2024-11-19T03:04:03.015Z",11,"«President Trump Is Going to Be Disciplined by the Bond Market»","Marko Papic, Chief Strategist at BCA Research, warns that rising interest rates could stall the rally in equities. President Trump will focus on his true mandates and that does not necessarily mean a massive trade war.",3845,"https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F07\u002F14\u002F0147436a-271f-4cf1-9024-b2578e8cad28.jpeg?crop=3845,2163,x0,y200&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F07\u002F14\u002F0147436a-271f-4cf1-9024-b2578e8cad28.jpeg?crop=2562,2562,x776,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F07\u002F14\u002F0147436a-271f-4cf1-9024-b2578e8cad28.jpeg?crop=3036,2277,x405,y55&width=1024&quality=75&auto=webp","«Voters didn’t elect Trump to begin a massive trade war. Especially in the context of prices, as tariffs would increase price levels»: Marko Papic.","2024-11-15T13:18:54.489Z",12,"«It’s Time to Position the Portfolio for Rising Yields and a Stronger Dollar»","Donald Trump’s election and the Republican red sweep are setting financial markets in motion. Jim Bianco, President and Macro Strategist at Bianco Research, believes that the change of power in Washington will give the US economy a fresh boost. However, it also poses the risk of inflation flaring up again, which will be a challenge for investors.","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F07\u002F27fcd49c-f043-44f2-b393-b004be94167d.jpeg?width=1024&quality=75&auto=webp",5849,3899,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F07\u002F27fcd49c-f043-44f2-b393-b004be94167d.jpeg?crop=5849,3290,x0,y17&width=1024&quality=75&auto=webp",3466,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F07\u002F27fcd49c-f043-44f2-b393-b004be94167d.jpeg?crop=3466,3466,x1208,y112&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F07\u002F27fcd49c-f043-44f2-b393-b004be94167d.jpeg?crop=5199,3899,x554,y0&width=1024&quality=75&auto=webp","«I don’t know if everybody is ready for the idea that by the end of the year the Fed’s whole interest rate cutting campaign will be mostly if not completely done»: Jim Bianco.","2024-11-11T01:54:00.983Z",13,"Jeffrey Sherman and Bill Campbell, investment managers at DoubleLine, expect price pressures in the US economy to continue. They explain what the presidential election means for the economy and financial markets – and where they spot attractive opportunities for investments.","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F04\u002Ff65b94a8-2c45-4cb9-b748-4f8e4683ab78.jpeg?crop=4000,2250,x0,y208&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F04\u002Ff65b94a8-2c45-4cb9-b748-4f8e4683ab78.jpeg?crop=2666,2666,x667,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F11\u002F04\u002Ff65b94a8-2c45-4cb9-b748-4f8e4683ab78.jpeg?crop=3555,2666,x223,y0&width=1024&quality=75&auto=webp","«It’s a little too early to tell whether it’s a soft landing or a no landing, but it sure doesn’t look like a hard landing»: Jeffrey Sherman (left) and Bill Campbell.","2024-11-05T03:32:00.337Z",14,"«China Hopes That America Under Trump Will Turn its Back on the World»","Joerg Wuttke, Partner at consulting agency DGA and former President of the EU Chamber of Commerce in China, on the latest stimulus measures from Beijing and how the US elections will influence the relationship between the US and China.","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F07\u002F04\u002F8aca0496-3321-41e8-bb50-1adeae9ef08f.jpeg?crop=3185,1791,x398,y856&width=1024&quality=75&auto=webp",2237,"https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F07\u002F04\u002F8aca0496-3321-41e8-bb50-1adeae9ef08f.jpeg?crop=2237,2237,x1197,y755&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2024\u002F07\u002F04\u002F8aca0496-3321-41e8-bb50-1adeae9ef08f.jpeg?crop=2516,1887,x836,y826&width=1024&quality=75&auto=webp","2024-10-08T02:45:59.877Z",15,"Risk vs. Reward: Your Margin of Safety is Razor-Thin","The market’s over-reliance on a few giants is skewing risk-reward dynamics, squeezing your margin of safety to a razor-thin line. High valuations, shrinking diversification, and misplaced capital challenge investors to rethink conventional strategies.","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,2340,x0,y467&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=3698,3698,x220,y0&width=1024&quality=75&auto=webp","https:\u002F\u002Fimg.themarket.ch\u002F2023\u002F12\u002F05\u002Fde00f978-2021-434b-87f0-49d9d7abcb05.png?crop=4160,3120,x0,y145&width=1024&quality=75&auto=webp","2024-10-03T01:42:00.829Z",{},"2019-06-03T14:46:16.012Z","page","CH","MKT",100,{},"Market, English","website","https:\u002F\u002Fthemarket.ch\u002Fenglish.rss",{},"redaktion@themarket.ch","2025 The Market Media AG, Schweiz","index, follow, noarchive, noodp",{},"Tue, 18 Feb 2025 04:19:22 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