Oct 7, 2025 | Review & outlook
Review & Outlook October 25 Dear SirsAs already noted in our previous quarterly reports, we regret to observe that theglobal geopolitical situation continues to deteriorate. In particular, Europe andNATO are not yet prepared to sit down at the negotiating table...
Jul 8, 2025 | Review & outlook
Review & outlook July 25 Ladies and gentlemenWith global stock markets at record highs, it is easy to get the impression that the global economy is well on its way to paradise.But this impression is deceptive. For over two years, we have been reporting in this...
Apr 22, 2025 | Review & outlook
Review & Outlook April 2025 Ladies and gentlemenUnfortunately, the geopolitical chaos in the world has not changed for the better since the beginning of the year. Although a number of attempts have been made to negotiate peace, particularly between the USA and...
Jan 15, 2025 | Review & outlook
Review & outlook January 25 Dear Sir or Madam Forward or down? That is the key question regarding the possible path of the global economy in the year that has just begun. Geopolitically, global conditions are still continuously deteriorating. Many European...
Oct 14, 2024 | Review & outlook, Review & outlook
Review & outlook October 24 Dear Investor The current outlook for the global economy is not too rosy, so it comes as a surprise everywhere that equity markets are still able to maintain an historic high. The simplest explanation lies with small investors, who are...
Jul 9, 2024 | Review & outlook
Review & outlook July 24 Ladies and Gentlemen We are increasingly concerned about the geopolitical situation in the world, which has continued to deteriorate over the last quarter. There are no signs of any real willingness to settle these wars with constructive...
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