Providencecapital 
Stock market sentiment remained again positive in March, with several markets breaking records: the US, Japan and the Netherlands are a few examples. With that enthusiasm, valuation levels also rise, although it is not a given that profits will increase correspondingly in a coming economic recovery. While the US economy is still barely faltering, economic … Read more
Interest rate cuts postponed February showed that financial markets can also move forward without the support of the bond market. Central banks are still reluctant to cut interest rates already now. For that, inflation, especially in the service sector in the US and Europe, is still falling too slowly. If the money market expected around … Read more
Financial markets often exaggerate, making a “random walk” past the facts: if they ignore positive signals, pessimism prevails. When negative facts are set aside, optimism dominates. It is then up to us investors to identify which signals matter and which sentiment we should consider. When Fed chairman Powell signalled last October, that he was just … Read more
What went well and what could have been better? Financial markets started the year on a positive note: bonds were in demand, if rates fell. Equities saw a way up, after a difficult 2022. The first bump came in March, when a minor US banking crisis took place. Doubts about the solvency of small banks, … Read more
We fought many plagues Of course, first we had to fight the pandemic. We did that spending a lot of money. Many millions of people, in the US, in Europe, in all kinds of countries, were given money without having a job. Nor were they in a position or even allowed to work. The huge … Read more
Economic complaints are raining down from all sides, often with increased interest rates as the deeper background. And yet this monthly report is titled: interest rate happy? Was this perhaps a typo? After all, who gets happy about higher interest rates? In fact, it acts like a grindstone, slowing down economic growth. Everything just goes … Read more
Investment Manager +31 (0)88 8086 900 +31 (0)6 10491693 mmeijer@providencecapital.eu vCard LinkedIn As an Investment Manager, Martijn is member of the Investment Committee. He is the point of contact for entrepreneurial families in managing and advising on their investments. Martijn worked for almost 16 years for Wijs & Van Oostveen, an asset manager in Amsterdam; … Read more
Inflation rates fell, while interest rates rose sharply in September. The explanation is possibly because statistics look back, but markets look forward. The oil market, which is important for inflation, looked tight and prices rose sharply. That price rise has yet to feed through to the rest of the economy. And even if inflation now … Read more
A few years ago, the financial world was as beautiful as Goldilocks: self-evident growth and low inflation. But it looks like it’s ugly stepsister has taken over. The manufacturing economies of this world are struggling. The West is ordering less, so the East, starring China, South Korea, Japan, and Taiwan, is getting fewer export orders. … Read more
This could be an account of a first boring summer-month. Do I hear ‘’summer”? When I step into the municipal outdoor pool early in the morning, it turns out to have cooled down considerably due to the rain, to about 19 degrees. I would have been better off stepping into the North Sea at around … Read more
I hereby provide you with my e-mail address so that you can e-mail the newsletter with me once a month. This is the only purpose for which my data is used by Providence Capital. I am aware that I can cancel my subscription at any time by unsubscribing via the link in the newsletter or by sending a message to info@providencecapital.eu. Providence Capital will delete my data upon receipt of my deregistration.
