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Daniel Zurbrügg
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Daniel Zurbrügg is the Managing Partner of Swiss Infinity Global Investmetns GmbH(http://www.swissinfinity.ch), a Swiss based independent asset management firm. The firm provides clients with independent investment research, asset management and asset protection services. With a global network... More
My company:
Swiss Infinity Global Investments GmbH
My blog:
@bluepeak23
  • ECHO FROM THE ALPS speaks...
    2009 has been another challenging year, but, the recovery of global financial markets from a steep fall in 2008 and Q1/2009 has helped ‘ease the pain’. Equity prices have risen by almost 50% from the lows seen in spring. In hindsight, it is now clear that the spring lows offered a tremendously attractive entry point for investors and we are glad we decided to increase our investment exposures to equities as well as global currencies and precious metals. The recovery that followed helped us to achieve a record return of +31.32% for our main global macro strategy, which is significantly higher than what we regard as the long-term return target for our strategy (10%-14%). We are very excited about the results achieved this year, and, while we do not expect to replicate this year’s performance, we believe there are reasons to be cautiously optimistic for next year as well.
     
    This edition of our newsletter includes a general update on macroeconomic developments and the latest news and forecasts for global financial markets. We have also included some special items such as a report on opportunities in agriculture and the industry value-chain. We believe these are areas which will offer outstanding opportunities for the next few years. We have recently added exposure to fertilizer and crop-protection companies and have also increased our investments in various soft commodity producing firms.
     
    Our report “Odd signals from financial markets – who is wrong here?” looks at various financial markets and compares the very mixed signals we get from these markets. After a strong rally this year, equity markets are hinting at a strong economic recovery to come, whereas the shorter end of bond markets still shows very low yields and few worries about inflation. Also, gold has been one of the top performers this year, but why should gold go up when the economic outlook is improving and inflation is not on the radar? We are going to look into these and try to interpret what, at first glance, appear to be conflicting signals.
     
    This newsletter contains the following reports:
     
    • Macro Update – where do we go from here?
    • Outlook 2010
    • Odd signals from financial markets – who is wrong here?
    • Foreign Currency Update
    • Rainy Day Trust Structure
    • Opportunities in Agriculture
     
     
     
    We hope you enjoy reading this newsletter and we thank you for all the feedback we have been receiving from our readers this year. We would like to wish you all a happy holiday season, a Merry Christmas and a great New Year 2010! A special thank you goes to our clients, employees, strategic partners and friends around the world, who we enjoy working with. We are looking forward to building our relationships with you all for many more years to come.
     
    Thank you & Season’s greetings,
     
    Daniel Zurbrügg
    Managing Partner
     
     
     
    Written somewhere in the Swiss Alps in December 2009
     
     
     
     
     
     


    Disclosure: "No positions"
    Dec 23 1:57 AM | Link | Comment!
  • ECHO FROM THE ALPS - October Investment Newsletter out now...

    Please read our investment articles here on SeekingAlpha or subscribe to our newsletter by sending an e-mail to: info@alpineatlantic.com

    Oct 13 7:07 AM | Link | Comment!
  • ECHO FROM THE ALPS: The Central Role of Foreign Currency Management in Global Wealth Management

     

    We can’t repeat often enough how important managing foreign currencies is in the context of managing a globally diversified investment portfolio. Despite this we are often surprised how many people, among them many so called investment experts, do not have any clue about this issue. About ten years ago, I was working as a foreign currency manager for one of the biggest U.S. firms. The company had huge foreign currency positions and even bigger operational money flows in those currencies. In order to protect profit margins, it was crucial to carefully manage the currency exposures. The impact from currency movements on the performance of a global investment portfolio is terribly important. U.S. investors and asset managers often overlook this factor, since they have a very strong home or U.S. Dollar bias. This practice can be quite dangerous, however, since we live in a world that is becoming increasingly “multi-polar” and where more and more money and power shifts to emerging economies. Further to this, there is a growing trend among major central banks (on whole the largest holders of Dollars) to restructure currency holdings in order to increase the diversification of their currency reserves. This will most likely add further selling pressure on the U.S. Dollar in coming years. What is a 5% investment return in U.S. Dollar worth when it is measured on a global scale? It is probably much less. This is especially so if we see increasing inflation and a weakening of the U.S. Dollar versus other major currencies. We believe that global diversification of investments and therefore investments in a range of non-U.S. Dollar currencies, is going to be a key driver of portfolio performance in coming years.
    Jul 23 4:05 AM | Link | Comment!
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