GAM's Active Thinking 20 January 2023
The Icarus paradox, posited by Danny Miller in his 1990 book by the same name, refers to the phenomenon of businesses failing abruptly after a period of apparent success, where this failure is brought about by the very elements that led to their initial success. Mark Hawtin argues that Tesla fits this well as the company’s wings begin to melt after apparently having no bounds in stretching for the sun!
Look out for more from the Disruptive Strategist next week.
Andrea Quapp, Investment Director for Multi Asset Class Solutions (MACS) Continental Europe, explains why we might be at a turning point macroeconomically, how a weakening of the US dollar would benefit emerging markets and the alternatives available in the field of indirect real estate investments in Switzerland.
At GAM Investments’ latest Active Thinking forum, David Dowsett reviews the latest market developments while Niall Gallagher explains why he believes the recent outperformance of the European equity market versus US equities is likely to continue.
The latest UK unemployment rate came in at 3.7%, in line with expectations, but 3-month average rolling earnings up to November last year came in at 6.4%, higher than a year prior, which highlights that inflation dynamics in the UK are starting to become a bit sticky.?
December’s UK CPI year-on-year print of 10.5% announced this morning was exactly in line with market forecasts and showed a modest slowdown from the previous month’s year-on-year rate of 10.7%; this is now the second consecutive month showing a slowdown.
For more expert insights visit our website gam.com/our-thinking.