Review & Outlook 22-Q3

Review & outlook  October 2022 The problems plaguing our world are currently so manifold that it would be impossible to list them all within the confines of this letter. Although Ukraine has made some advances in recent weeks thanks to the military aid provided by...

Review & Outlook 22-Q2

Review & Outlook June 2022 The economic situation continued to deteriorate in the second quarter, most notably as the prospect of an imminent end to the war in Ukraine receded. This is impacting on the prices of many commodities such as energy and foods, pushing...

Review & Outlook 22-Q1

Review & Outlook March 2022 Schon während der Pandemie der letzten zwei Jahre zeichnete sich ein baldiges Ende der Globalisierung ab. Der Einmarsch Russlands ins Nachbarland hat nun aber definitiv die Weltordnung beendet, an die wir uns seit dem Ende des Kalten...

Review & Outlook 21-Q4

Review & outlook December 2021 As we now put an extremely turbulent year behind us, it seems harder than ever to reliably forecast what the New Year will bring. Even two years on, we are still completely in the grip of the pandemic and there is no end in sight....

Review & Outlook 21-Q3

Review & outlook October 2021 The global economy has performed well over recent months, although some darker clouds are already gathering on the horizon due to many different reasons.The continuing spread of the Delta variant of the coronavirus has dashed all...