Azioni globali

Quitting is often misunderstood as weakness. But in investing, selling is the overlooked half of decision-making, hindered by biases like sunk cost fallacy or FOMO. In our view, knowing when to walk away is essential for preserving capital and seizing better opportunities.

In our latest Quality Conversations videos, discover how quality companies—those with strong franchises, pricing power, and unlevered balance sheets—can thrive in uncertain markets. By navigating inflation, shifting economic cycles, and interest rate volatility, these "masters of their own destiny" appear to offer resilience and long-term growth potential.

The AI boom has increased demand for data centers, but US electric utilities lack the capacity to power them. This has led to a rise in self-generation solutions, benefiting companies like Schneider Electric and National Grid. The issue was a key theme at the recent Data Center Dynamics trade show.

L’incertezza e la volatilità del contesto attuale sottolineano i benefici della nostra rigorosa filosofia Quality Growth, incentrata su business consolidati, resilienti e resistenti. Considerando i venti di coda di portata ristretta dai due anni precedenti, alcune società di qualità presentano valutazioni interessanti alla luce delle loro caratteristiche di crescita difensiva.

As the exuberance we’ve seen over the past few years fades, our Quality Growth team looks to find resilience in industries that are shielded from the effects of tariffs and the volatility around AI.

L’analista investigativa Zhen Li ha recentemente partecipato alla seconda Global Developer Conference di Shanghai. La ricerca sul campo di Zhen rivela preoccupazioni circa la fattibilità e sostenibilità del modello di DeepSeek, data l’intensa concorrenza nel settore dell’IA in Cina e la mancanza di chiarezza sulla monetizzazione dei modelli di IA.

Factor investing has long explained market behavior, but its flaws—timing dependencies, rigid linearity, and backward-looking assumptions—limit predictive power. Can AI overcome these? This Expl(AI)ning episode dissects factor evolution, their pitfalls, and how machine learning enables dynamic models. Dive into quantitative investing’s future.

Is the tech market’s bull run, much like a steamroller, starting to reverse course? Efficiency gains recently announced by DeepSeek have raised questionsabout the commoditization of LLMs and the potential overinvestment in data centers, shifts that could significantly impact the industry and investors.

2025 is poised to be another positive yet complex year for equities. Balancing core positions in industries driven by secular trends – like semiconductors, AI hyperscalers, and the energy transition – with opportunistic exposures that can benefit from cyclical or policy-induced rebounds can help navigate the challenges ahead.

The mining industry is entering a green supercycle, driven by demand for metals and minerals needed for decarbonization. Despite increased competition and deeper mining, technological advancements are boosting productivity and reducing emissions. This presents compelling long-term investment opportunities in this evolving industry.

Le forze alla base dell’attuale andamento dei mercati rendono particolarmente difficile trovare il giusto equilibrio. Come possono gli investitori attingere all’enorme potenziale dell’IA senza assumersi troppi rischi? Ecco come il nostro team Quality Growth riesce a gestire i rischi mantenendo un sano equilibrio.

Com’è possibile gestire l’impatto della volatilità di mercato dovuta all’esito delle elezioni? Matthew Benkendorf, CIO della nostra Boutique Quality Growth, illustra modi per trovare stabilità nell’attuale fase di turbolenza.