“Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.” – Charlie Munger
Pfäffikon SZ, Switzerland – The markets were pretty resilient the past week. Traders now also see that a possible trade war between the US and China will be resolved behind the scenes. The press is screaming bloody murder, but there is no question of an actual trade war yet. Additionally, economic figures in the US show a positive picture. In spite of the recent pullback, we think that the markets may increase spectacularly in the second half of 2018.
The stock markets will be dominated by international meetings and economic figures next week, while in the US the numerical season will start.
This material is communicated on July 8, 2018 by 1324 | by Thirteen Asset Management AG, Rietbrunnen 20, 8808 Pfäffikon SZ, Switzerland. This material is for information purposes only and is not intended to be a solicitation or invitation to invest. Any organizations or products described in this material are mentioned for reference purposes only. This material is intended only for investment professionals and professional clients and must not be relied upon by any other person. It is proprietary information of 1324 | by Thirteen Asset Management AG and may not be reproduced or otherwise disseminated in whole or in part without prior consent from 1324 | by Thirteen Asset Management AG. Alternative investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. We recommend to consult your bank, investment and/of tax adviser.