Well, thankfully we have an absolutely non-political and neutral expert technocrat heading the ECB.
Christine Lagarde weel ste-aire us vell ts’roo ze ruff sea a’ead.
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My first thought was: “Is Anchorman now a stock analyst?”
That makes me feel better about my 8.8% YTD CHF performance. 
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I guess this would cause PE ratios to fall to something more reasonable which would not be a bad thing necessarily. If earnings remain the same but PE ratio falls from ~30 to ~15 then VT would yield around 3.5% dividends per year 
I guess the downside for the real economy is that companies who rely on raising capital by selling stock will have less ability to do so.
Well, it would be good if you are young and early accumulating. It could be a disaster for you if you are retired and were planning on spending that down in retirement.
The Swiss franc sitting in UBS savings outperformed the S&P 500 in 2025 
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2025 isn’t over yet!
See also this poll:
We went from -10% to +10% YTD but still negative in CHF terms.
I’ve been selling to pay the next tranche into Pillar 2…
Ah, this.
… who reassuringly (sort of) said
Asked in the European Parliament whether the ECB could deploy its Transmission Protection Instrument to help Italy, Lagarde wouldn’t name any country but said the scheme was only there to support fiscally prudent countries while others should apply for a bailout.
Then again, that was three years ago, looking at Italy…
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If it’s clear when it reverses, it should be priced in already, no?
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Is that like “if the lottery has negative expectation, nobody will buy a ticket”?
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And then, we’re back to the futures
Time travel is the best strategy indeed. I’ll start chronicle of 2026 with time going backward.
Also, I’ll see myself out immediately.
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I mean, I finally went ahead and bought futures for leverage. I posted that question about the strange roll prices on three different forums by now. Nobody seems to have an answer about what we see on that picture. I might try to ask IBKR? Their answers can be as hit and miss as ChatGPT, though. – Which I also asked and had a different explanation every time…
And does not look bad ytd / 1 yr.
I so much hate this company though.
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It’s one I looked at but couldn’t bring myself to buy.
Yeah, same.
I hate them for buying Sun Microsystems and essentially sunlighting Solaris.
I also hate them for acquiring MySQL and squandering it.
I also dislike them for having kcurated Thomas Kurian who joined Google as the Cloud CEO when I was still with Hoolie. Thomas (at Oracle) would reportedly park his car in a handicapped parking spot. When driving into the parking lot, he would sometimes tailgate and honk at other employees who slowed down to go over a speed bump.
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You know. In retrospect, being such assholes, I should have invested in them. You know such ruthless douche-bags are going to get ahead no matter what.
One
Rich
Asshole
Called
Larry
Ellison
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Some eventually fail.
But a douche-bags-CEO-companies index/ETF would totally make sense. easy / low-cost to manage the constituents.
Edit: I asked ChatGPT, it basically lists all big tech companies.
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You forgot buying Java and then trying to fuck over Google/Android over using 37 Java APIs.
Not re-licensing ZFS pisses me off too.
The must be a whole heap of other stuff I forgot about.
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I’m about as bullish as it gets on the expected economic value of AI investments, but there is no world where valuing Oracle as a trillion dollar company just based on OpenAI spending projections six years out makes any sense.
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