[dropcap]R[/dropcap]upert Murdoch is still a fixture of financial markets at 87. He no longer shows up in AlphaValue’s long list of chairmen of listed corporates…
[dropcap]A[/dropcap]fter years of outperformance, the F&B industry seems to be somewhat lost in an environment of accelerated changes and value chain fragmentation. The sector has…
On the mathematically correct view that P/Books are a function of ROEs, the 30 sectors tracked by AlphaValue do a nice job of sitting on…
At a time of global strong traffic growth, the aerospace industry is about to reach the end of a painful and costly ramp-up phase that…
Every now and then we check whether “trash” as defined by a non-investment grade rating is a good investment theme. Not currently, it would seem.…
[dropcap]O[/dropcap]ur endorsement in August 2017 proved to be an ideal entry point for Vifor Pharma – the small-cap play has been the ace performer in…
[dropcap]B[/dropcap]anks have over-performed the market over the past two years, recovering a portion of the ground lost during the first half of 2016 on overdone…
[dropcap]T[/dropcap]he asset management (and asset gathering as a whole including the Life insurance business) has been reshuffling at an exponential speed over the last few…
[dropcap]W[/dropcap]e believe concerns about the potential impacts of accelerated digital investments on dividends are misplaced. In our view, they are based on a misconception of…
When AXA presented two years ago its “Ambition 2020” plan, it was considered as rather ambitious indeed, and, when a refreshed management team took the helm,…