Who would have thought it? After four matchdays, Cagliari Calcio is sitting in seventh place in Serie A following its 2-1 victory over Lecce at the weekend. It may not last, but it proves that smaller, less popular teams can spring surprises and outperform the big clubs that dominate the headlines. The same is true […]
Written by Roberto Magnatantini – Thematic Fund Manager, DECALIA SA When reading an article on the theme of war, one generally comes across a quote from Sun Tzu, Machiavelli, or Clausewitz. Yet nothing seems to summarize Europe’s current situation as well as Pierre Desproges’ quip: “I don’t have cancer, I’ll never get it, because I’m […]
Gold just broke above $3’600 this morning, a new record high. In the same time, worries over government debt sustainability, geo-political instability, central bank’s independence and inflation are broadening out. For sure, the US holds the upper hand, not only because it’s the largest market accumulating all these flaws but also because the policies of […]
Unlocking Value in Private Markets In today’s private markets, asset-backed financing (ABF) has emerged as one of the most dynamic and compelling investment opportunities. By lending against tangible or contractual assets, investors can achieve attractive returns with strong downside protection, often in areas where traditional banks are absent. This differs substantially from a classic corporate […]
While Cagliari Calcio is already slowly sinking into the lower reaches of Serie A following its last minute 0-1 honorable defeat against Napoli this weekend, another negative trend is currently causing me much more concern as a bond portfolio manager. This is, of course, the deterioration in French public finances, highlighted by the political instability […]
Nel panorama geopolitico globale in rapida evoluzione, fortemente incentrato sulle filiere e sul potenziamento delle capacità di difesa, le terre rare acquisiscono sempre più importanza e, di conseguenza, maggiore interesse da parte degli investitori. Cosa sono esattamente, perché sono fondamentali, se sono davvero così rare e se il dominio della Cina può essere messo in […]
And here we go again for a new Italian Serie A championship with my favorite team, Cagliari Calcio, which kicked off with a good performance and a 1-1 draw at home against Fiorentina last night. If the championship ended there, Cagliari would be safe from relegation – which would be more than enough to make […]
In a market increasingly seeking yield with greater control, private credit secondaries are emerging as a compelling opportunity. Unlike traditional primary investments that tie up capital for years and require patient ramp-up, secondaries offer exposure to seasoned assets—bringing immediacy, visibility and flexibility to portfolios. 1. Accelerated Deployment, Immediate YieldPrivate credit secondaries allow investors to bypass the […]
A Fed’s rate cut in September rate is still far from guaranteed, in my views, especially after last week’s releases of US CPI and PPI reports, which showed that supercore inflation remains stubbornly high, running at 4% yoy and 3.8% a.r. over last 3M, while companies are passing some tariff costs on to consumers. In […]
