Blog Archives

A perfect bubble?

Stock market price-earnings-ratios are nothing else like inverted earnings yields. They are regularly used to assess the valuation of equities as an asset class. If you apply the same methodology to bond markets, e.g. the German Bund market, it becomes

Tagged with: ,
Posted in Financial Markets, Long-Term Charts, Long-Term Trends

European defensive sectors are back in favour

During the recent period of euphoria, stock markets neglected defensive sectors. These interrupted their relative outperformance trends. This, however, has changed in the recent weeks.    

Tagged with:
Posted in Financial Markets, Long-Term Charts, Relative Price Charts

The risks of risk management

Risk management involves systematically identifying and evaluating risks as well as managing the response to the risks that have been identified. It is usually performed by specialised employees within a company and has become increasingly important since the 2008 financial

Tagged with:
Posted in Financial Markets

Quality is outperforming again

Quality shares, measured by the STOXX® Global Strong Quality 50, have resumed their outperformance vs. global equities.

Tagged with:
Posted in Financial Markets, Long-Term Charts, Relative Price Charts
“With a Steady Hand”
Welcome to the weblog of Karl-Heinz Thielmann, fund manager, financial analyst, economist and dedicated long-term investor.

Enter your email here to follow "With a Steady Hand".