Opinion

A groundbreaking study shows that “superstar cities” systematically lag in total returns — a crucial insight for valuing REITs (real estate investment trusts). The explanation lies in lower rental yields and surprisingly low risk, which fundamentally changes how future cash flows should be assessed.

The recent developments in the Middle East make one thing absolutely clear: president Donald Trump deserves the Nobel Peace Prize. This is the logical conclusion if we look at what the prize is supposed to reward: concrete peace achievements that save lives.

The public markets are shrinking, but private capital is booming, and Luxembourg is quietly building the exchange of the future.

So far this year, the euro has appreciated by no less than 13 percent against the US dollar. That drop in the dollar’s value — because that’s what it really is — was first explained as America discarding its “exceptionalism” under Trump.

Last week, during the Fund Event, I sat in a packed room around a metaphorical campfire. This time, questions didn’t come through the chat, but as paper airplanes floating through the air. Some landed in the fire and were answered immediately. Others fell into the ashes. Time to pick those up.

Wat als de sleutel tot het begrijpen van marktrendementen niet in de balansen van bedrijven ligt, maar in de portefeuilles van de mensen die ze bezitten?

As I’m still reflecting on the Fund Event 2025, where it became objectively clear that Europe needs to take action and learn to look at and approach things differently, the United States just keeps steaming ahead.

October has a bad reputation in the markets. The biggest crashes in history – 1929, 1987, and 2008 – all took place in October. This pattern does not appear to be a coincidence but rather the result of structural factors that make this month particularly volatile.

Stocks are extremely expensive, so it’s just a matter of time before the markets collapse. The next mega market crisis already has a name: the bursting of the AI bubble.

It is March 2020 and Italy is in serious trouble. Italian long-term interest rates are rising rapidly, and the spreads with other eurozone countries are widening.