Global Equity Strategist
Lars is not your average German: he owns the house he lives in, has two children and drives Japanese cars (one electric). Maybe that’s also why he covers equities rather than bonds?
By Lars Kreckel - August 01, 2018 3 mins
For a sector accustomed to getting headlines for its stellar growth and equity returns, the past few weeks have felt a bit different for technology companies. It's time to take stock, think about what we’ve learnt and revisit our bullish macro case for the sector. In short, however, I still like tech.
By Lars Kreckel - July 26, 2018 4 mins
History suggests that equities struggle to make gains ahead of US mid-term elections. With anti-trade rhetoric likely to feature in this autumn’s campaign, this time is unlikely to be different. On the other hand, we have also learnt to be prepared for the opposite with President Trump.
By Lars Kreckel - June 18, 2018 2 mins
Having worked as an equity strategist for well over a decade, I’ve lost count of the number of times I’ve had the debate on ‘what happens to equities when bond yields go up?’. And for most of that time bond yields were in the ice age and falling! To cut down on some future deja-vu, here's my Top 7 list of things to consider about equities when bond yields go up.
By Lars Kreckel - May 17, 2018 2 mins
Remember the EU referendum? The City thought the British public would see the economic benefits of EU membership and not wish to loosen ties with our closest trading partners. Turns out the City was wrong and had misread the mood of the nation. The current discussion around nationalisation has some worrying similarities, so is the City making the same mistake again?
By Lars Kreckel - March 15, 2018 3 mins
In a raging bull market there is always the temptation to buy the laggards in the hope of juicy returns from a 'catch-up' trade. Unfortunately, all too often you end up in a value trap instead: there’s a reason the stock has lagged and that reason often turns out to be annoyingly persistent. There’s no doubt that Mexico meets the laggard definition. But I would argue that there’s a strong case it could actually be a catch-up story.
By Lars Kreckel - March 09, 2018 3 mins
How could investors not like technology stocks? They’re cool companies, led by charismatic CEOs making irresistible products. And what's more, they're posting amazing growth rates with stocks that just keep going up. I’m sure the bottom-up investment case is much more sophisticated than that, but today I want to lay out the strong macro case for tech stocks.