The Retaliation of Tech

Long we have been used to tech stocks trading at price multiples (price/earnings) at more than the industry standard has been comfortable with for decades. Benjamin Graham’s ideal PE is between 10 and 15 dollars. The Dow Industrial is trading at 25 PE, the S&P 500 is trading at 25 PE. If you thought thatContinue reading “The Retaliation of Tech”

2018 EU-US Outlook: Where do we come from? What are we? Where are we going?

As the first quarter of the year is headed to the end and new challenges lay ahead for international financial markets, frame the actual situation is necessary to adapt to future changes. 2017 has been a record year both in terms of returns and volatility. Looking at historic data, seems obvious the past year representsContinue reading “2018 EU-US Outlook: Where do we come from? What are we? Where are we going?”

The return of megadeals: Blackstone buys Thomson Reuters’ data unit for $17bn

On 30.01.2018, Blackstone announced to buy a majority stake in the data business of Thomson Reuters, the world’s second largest financial information provider. It’s the private equity group’s biggest purchase since the financial crisis, pitting the firepower and network of Stephen Schwarzman, who oversees $387bn in Blackstone funds, against fellow billionaire and former New YorkContinue reading “The return of megadeals: Blackstone buys Thomson Reuters’ data unit for $17bn”

Spotify goes public, not through an IPO

Spotify will go public before the end of the first half of 2018 and has already filed confidentially with U.S. regulators for an initial public offering. Morgan Stanley, Goldman Sachs and Allen & Co to advise on the listing, acting as commission brokers that will only help selling the shares. Spotify, the privately held SwedishContinue reading “Spotify goes public, not through an IPO”

Are We on the Verge of a Trade War?

Many of us have been asking ourselves this question after President Trump announced his intention to impose 25% and 10% tariffs on steel and aluminium imports, respectively. Trump’s announcement might be challenging the GATT (General Agreement on Tariffs and Trade) which despite evolving throughout time, have remained the WTO’s foundation since its establishment after WorldContinue reading “Are We on the Verge of a Trade War?”

Mifid II: what about the markets?

3rd of January 2018, while the markets started well their year and were keeping a bullish direction before the recent increase in volatility, something else started. Yes, it’s the new European Union Markets in Financial Instruments Directive known also as MiFID II. Most people talked a lot about it during the last quarter of 2017Continue reading “Mifid II: what about the markets?”

Private Equity – Snapshot & Outlook

– In 2017, Private Equity markets continued to reach new record highs with regard to capital commitment, deal valuations and number of active investors. Competition for private investments increased dramatically, largely caused by traditional asset managers shifting significant proportions of their capital into private markets. With easy access to capital and increased competition for deals,Continue reading “Private Equity – Snapshot & Outlook”