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Oh no - The Economist ! Don´t jinx it with the "magazine cover curse". Meanwhile, Eric Trump is selling a new cap... A very stable genius...Citadel founder Ken Griffin (a Republican Mega-Donor) thinks Trump is destroying the "US brand" in the financial markets (click)
 That didn´t age well. Is the US now like an Emerging Market ? (see article below) UK and European Small Caps (and Chinese Large Caps, "Only the Brave") are historically cheap (source)
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Like many, George Magnus thinks that "Nobody can win this Trade War". But he also highlights the unsustainability of the "Chinese Model": "They don’t import enough, they don’t consume enough. The philosophy behind China’s economic model is pure mercantilism. They make a virtue of export surpluses and accumulating foreign exchange reserves." In his eyes this is rooted in the political fear of handing power to consumers: "Because if you really transfer economic power to the citizens, households, and small firms, you are transferring political power as well. I don’t think they want to do that.". Meanwhile, Ray Dalio assesses a "Beautiful Rebalancing" between the US and China (click)
Polymath Investor is looking into the AI coding revolution and how it is dramatically changing software investments (see article below)
 Moncler has a colorful history: mountaineering heritage, early success, near-death experience, re-birth under Remo Ruffini, expansion via Stone Island acquisition and LVMH interest (see article below)
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Find companies that can control their own destiny (see Eagle Point Capital article above). Make sure they are run by people that, at cross-roads, zoom out and make good long-term decisions. Schlitz, founded by German immigrants, was once the market-leading beer in the US. It was also innovative (first beer can adopter). But when faced with higher input cost, they chose to compromise the product quality and never recovered (source). Hermes, when facing a similar question (lower product quality), chose to do the thing that was right in the long term (see video below)
Prof. Damodaran reflects on the Allure and Dangers of Dip-Buying / Contrarian Investing (see podcast below)
SFR has a good documentary on the collapse of Credit Suisse (see video below)
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That´s right...
 It was all JPow´s fault, for about 2 days... All the hubris of the Trump regime in a few words...(click) Taking about hubris in the Trump regime...
Maybe we would all benefit from this career change...But, in the meantime, the Trump family just keeps grifting. Welcome to "Crony Capitalism Island" (click).
Something very sad, but still, very, very beautiful. There are only 3 more games left at the "Grand Old Lady" (click)
Enjoy the Weekend !
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