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«What would happen if credit rating agencies ceased to exist? It is a question that few of us ask ourselves today, but one that leads to some fascinating reflections.»That’s how it began" the article which we published over a year and a half ago. Unfortunately, this debate is now dominating the media headlines for very sad reasons, as the role of the credit rating agencies is being called into question solely because they have downgraded Portugal’s rating. In other words, because their ratings are a thorn in the side of those of us who are still members of the Eurozone. We invite you to re-read that short article from 16 December 2009 – it feels like it was only yesterday – and afterwards we’ll offer some thoughts on the matter. (more…)It is clear that, in the current climate, predicting what will happen in the second half of the year is risky, to say the least. But despite this, it remains our duty as wealth advisers – and, ultimately, as a family office. Reading or listening to the macroeconomic views of people such as John Mauldin o Ray Dalio, undoubtedly shed light on this sea of financial darkness. His experience and the fact that he has already fought in almost every bullring also lend weight to his interpretation of the past, present and future of the world of finance and investment. (more…)
«Why have issues such as the Hellenic Republic’s €150,000,000 Floating Rate Notes due 2012 performed so well recently, whilst the rest of the debt has been plummeting?»This is the striking and apt question that opens the excellent article published in the Blog: Right to the Bottom by Juan Ramón Caridad and Jacobo Zarco in FundsPeople. And the authors’ immediate response is the difference between local regulations and English regulations. (more…)
Last month, I was asked to speak at a conference at the School of International Business on social media. Whilst researching this topic, I came across some insights into what I anticipate will be the next big thing in the world of social media.
Here are my ten points of view:

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When, at one of our conferences, we mention that in this new financial world (The New Normal) in which we find ourselves, the concept of risk and capital preservation has changed radically; some of those present look at us sceptically. But when we tell them that risk is taking over traditional fixed-income asset allocation and that, in this ‘new normal’, wealth preservation must be achieved – now more than ever – by buying good, undervalued companies on the stock market, their scepticism turns to widespread disbelief. And their question—or rather, exclamation—is as follows: How can there possibly be greater risk in a bank deposit, a guaranteed product, subordinated debt or public and private bonds than there is on the stock market?
As A promise is a promise, here’s the subtitled version of the brilliant video we posted last month. It’s not to be missed – congratulations to the lads at EconStories.tv
We care about transparency both in management and in our own way of working. Leading wealth management and family offices company
Torres Sarrià, Carrer de Can Ràbia, 3-5, 4ª Planta BCN 08017
Pº de la Castellana, 93 2nd floor MADRID 28046
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