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![](https://triangulacapital.com/wp-content/uploads/2022/08/money-cash-flow-1537820-300x225.jpg)
Weekly Update 8 July 2024
A number of indicators suggest that inflation has been brought back under control.
![](https://triangulacapital.com/wp-content/uploads/2022/05/city-of-london-view-1225398-300x202.jpg)
Weekly Update 29 April 2024
Last week’s earnings confirm the thesis I have about European banks.
![](https://triangulacapital.com/wp-content/uploads/2022/05/city-of-london-view-1225398-300x202.jpg)
Weekly Update 4 March 2024
Our portfolio is in banks, insurance companies and energy companies.
![](https://triangulacapital.com/wp-content/uploads/2022/05/bank-of-china-view-1495555-300x204.jpg)
Weekly Update 29 January 2024
It would be dangerous to look at past 10-15 year returns when evaluating Value stocks.
![](https://triangulacapital.com/wp-content/uploads/2022/09/globe-europe-1309887-300x230.jpg)
Weekly Update 22 January 2024
What can we say about the prospects of the US vs the rest of the world?
![](https://triangulacapital.com/wp-content/uploads/2022/03/bull-market-1457119-300x225.jpg)
Weekly Update 18 December 2022
Many investors will be wondering if the market can go higher from here or if it might be a good time to sell.
![](https://triangulacapital.com/wp-content/uploads/2023/12/IMG_7597-300x225.jpeg)
Weekly Update 4 December 2023
The annual eToro Popular Investor Summit took place in Abu Dhabi last week.
![](https://triangulacapital.com/wp-content/uploads/2022/07/bank-building-1223895-225x300.jpg)
Weekly Update 20 November 2023
The investment case for banks remains strong from these levels.
![](https://triangulacapital.com/wp-content/uploads/2023/10/newspaper-1489009-300x225.jpg)
Weekly Update 16 October 2023
The ???????????????????????????????????? ???????????????????? published an article this weekend about copy trading.
![](https://triangulacapital.com/wp-content/uploads/2022/03/photographic-spotlight-1418280-300x225.jpg)
Weekly Update 18 September 2023
60% of fund managers have no direct stake in the performance of their funds.
![](https://triangulacapital.com/wp-content/uploads/2022/08/money-cash-flow-1537820-300x225.jpg)
Weekly Update 11 September 2023
A successful investor cannot base their strategy only on published results.
![](https://triangulacapital.com/wp-content/uploads/2023/09/Screenshot-2023-09-04-at-12.45.58-300x165.png)
Weekly Update 4 September 2023
Why the majority of my portfolio is invested in European banks.
![](https://triangulacapital.com/wp-content/uploads/2023/08/rollercoaster-1441996-300x225.jpg)
Weekly Update 14 August 2023
Over the past 10 years, investors lost to the funds they invested in by 1.7% a year.
![](https://triangulacapital.com/wp-content/uploads/2023/03/beautiful-golden-bengals-jewelry-1635976-300x199.jpg)
Weekly Update 7 August 2023
If the economy experiences a soft landing, we would expect commodities and banks to perform well in H2 2023.
![](https://triangulacapital.com/wp-content/uploads/2022/04/business-4-1246292-300x225.jpg)
Weekly Update 31 July 2023
Many investors were cautious at the beginning of the year, but the market ($SWDA.L) has returned +19% for the year to date, our portfolio +20%.
![](https://triangulacapital.com/wp-content/uploads/2022/05/city-of-london-view-1225398-300x202.jpg)
Weekly Update 17 July 2023
UK banks have underperformed continental European banks this year.
![](https://triangulacapital.com/wp-content/uploads/2022/04/business-4-1246292-300x225.jpg)
Weekly Update 10 July 2023
Inflation is finally starting to come down. Owing to elevated wage growth (6%), inflation is running at a high rate (5%). www.atlantafed.org/chcs/wage-growth-tracker www.clevelandfed.org/en/indicators-and-data/inflation-nowcasting However, trend
![](https://triangulacapital.com/wp-content/uploads/2022/08/new-york-views-1-1225931-300x225.jpg)
Weekly Update 3 July 2023
The first half of the year closed with a +13% return. It was a good start to the year in absolute terms, but in relative
![](https://triangulacapital.com/wp-content/uploads/2022/05/bank-of-china-view-1495555-300x204.jpg)
Weekly Update 26 June 2023
Our strategy has performed poorly since the end of January, with a -7% return. Banks, our main focus, have underperformed this year. A few banks
![](https://triangulacapital.com/wp-content/uploads/2022/05/city-of-london-view-1225398-300x202.jpg)
Weekly Update 19 June 2023
Growth stocks extended their lead over Value stocks last week. $VUG has beaten $VTV by 30 percentage points this year (+32% vs +2%). Given the
![](https://triangulacapital.com/wp-content/uploads/2022/04/business-4-1246292-300x225.jpg)
Weekly Update 12 June 2023
After sell-offs in 2011, 2016, 2018 and 2020 banks rebounded strongly.
![](https://triangulacapital.com/wp-content/uploads/2022/04/silver-quarter-1240798-300x225.jpg)
Weekly Update 5 June 2023
In May, Technology stocks beat the rest of the market by the widest margin since October 2001.
![](https://triangulacapital.com/wp-content/uploads/2022/03/airbus-380-1449458-300x212.jpg)
Weekly Update 29 May 2023
May has been a weak month for our strategy and Value stocks in general.
![](https://triangulacapital.com/wp-content/uploads/2022/03/bull-market-1457119-300x225.jpg)
Weekly Update 15 May 2023
For the first time since 2021, there is the possibility of some real money being made over the next 12 months.
![](https://triangulacapital.com/wp-content/uploads/2022/05/city-of-london-view-1225398-300x202.jpg)
Weekly Update 1 May 2023
Investors still view European banks with skepticism and indifference.
![](https://triangulacapital.com/wp-content/uploads/2023/04/la-defense-1585917-300x201.jpg)
Weekly Update 24 April 2023
If bank earnings continue to come in strong, we believe bank shares could bounce.
![](https://triangulacapital.com/wp-content/uploads/2022/03/bull-market-1457119-300x225.jpg)
Weekly Update 17 April 2023
A confusing market environment with both bullish and bearish arguments.
![](https://triangulacapital.com/wp-content/uploads/2022/03/oil-pumps-1180629-300x197.jpg)
Weekly Update 3 April 2023
Our strategy returned +14% in Q1, beating the MSCI World index by 6 percentage points.
![](https://triangulacapital.com/wp-content/uploads/2022/04/silver-quarter-1240798-300x225.jpg)
Weekly Update 27 March 2023
It looks like the first quarter of 2023 will end with a gain for stocks.
![](https://triangulacapital.com/wp-content/uploads/2022/05/bank-of-china-view-1495555-300x204.jpg)
Weekly Update 14 March 2023
All our US and European bank positions were sold on Friday, moving the majority of the portfolio into cash.
![](https://triangulacapital.com/wp-content/uploads/2022/06/pollock-like-02-1167921-300x225.jpg)
Weekly Update 6 March 2023
We expect the market to fall in 2023, but see scope for near-term strength over the next 1-2 months.
![](https://triangulacapital.com/wp-content/uploads/2022/08/money-cash-flow-1537820-300x225.jpg)
Weekly Update 27 February 2023
We do not get a clear signal about near-term market action and choose to run a relatively cautious portfolio.
![](https://triangulacapital.com/wp-content/uploads/2022/08/san-francisco-3-1218665-300x225.jpg)
Weekly Update 20 February 2023
We took profits on the majority of our risky cyclical stock positions last week after turning more cautious on the near-term outlook for the market.
![](https://triangulacapital.com/wp-content/uploads/2022/06/grand-canyon-arizona-1193565-300x225.jpg)
Weekly Update 13 February 2023
Individual investors have turned optimistic for the first time since early 2022.
![](https://triangulacapital.com/wp-content/uploads/2022/10/bear-figurine-symbolizing-bear-market-1774338-300x199.jpg)
Weekly Update 6 February 2023
Several Wall Street strategists are warning that the stock market rally has gone far enough and stocks will soon reverse course.
![](https://triangulacapital.com/wp-content/uploads/2022/04/shanghai-skyline-1447773-300x199.jpg)
Weekly Update 23 January 2023
Our base scenario is that the market continues to rally over the next 1-2 months.
![](https://triangulacapital.com/wp-content/uploads/2022/12/plants-on-the-sun-in-winter-forest-1639983-300x200.jpg)
Weekly Update 19 December 2022
Despite current economic resilience, investors remain pessimistic about next year. Could this be wrong?
![](https://triangulacapital.com/wp-content/uploads/2022/12/color-drops-of-oil-1639733-300x199.jpg)
Weekly Update 12 December 2022
In 2022, part of the bubble in Growth stocks deflated as Value stocks beat Growth stocks by 20 percentage points.
![](https://triangulacapital.com/wp-content/uploads/2022/07/bank-building-1223895-225x300.jpg)
Weekly Update 5 December 2022
If the economy holds up, we see 50%+ upside for many of the positions in our portfolio.
![](https://triangulacapital.com/wp-content/uploads/2022/11/nyhavn-copenhagen-1638624-300x216.jpg)
Weekly Update 28 November 2022
European equities are under-owned at the moment; cyclical European companies should outperform.
![](https://triangulacapital.com/wp-content/uploads/2022/05/bear-1-1310903-300x248.jpg)
Weekly Update 21 November 2022
The S&P 500 index may fall to the low 3000s next year, possibly as early as Q1.
![](https://triangulacapital.com/wp-content/uploads/2022/04/shanghai-skyline-1447773-300x199.jpg)
Weekly Update 24 October 2022
It is hard to see where the next bad news that will drive stocks lower will come from.
![](https://triangulacapital.com/wp-content/uploads/2022/10/bear-figurine-symbolizing-bear-market-1774338-300x199.jpg)
Weekly Update 17 October 2022
Most traders today don’t have good perspective about how long it can take to find an equity bottom in a downturn.
![](https://triangulacapital.com/wp-content/uploads/2022/05/bear-1-1310903-300x248.jpg)
Weekly Update 10 October 2022
In the current circumstances, cash looks like a pretty good investment.
![](https://triangulacapital.com/wp-content/uploads/2022/04/business-4-1246292-300x225.jpg)
Weekly Update 3 October 2022
Our intuition is that there is a 75% chance that the markets rally into the year end because of current oversold conditions.
![](https://triangulacapital.com/wp-content/uploads/2022/09/money-money-money-1241634-300x225.jpg)
Weekly Update 26 September 2022
We do not believe this bear market is over and target 3000 for the S&P 500.
![](https://triangulacapital.com/wp-content/uploads/2022/04/silver-quarter-1240798-300x225.jpg)
Weekly Update 19 September 2022
Because inflation has proved persistent, there is a chance interest rates will have to move to the 5-6% range.
![](https://triangulacapital.com/wp-content/uploads/2022/09/lviv-7-1552990-300x225.jpg)
Weekly Update 12 September 2022
Stocks rose last week due to oversold conditions being reversed and Ukraine making progress in its war against Russia.
![](https://triangulacapital.com/wp-content/uploads/2022/09/globe-europe-1309887-300x230.jpg)
Weekly Update 5 September 2022
Stocks should fall 30% from here to reach fair value, according to a GMO model.
![](https://triangulacapital.com/wp-content/uploads/2022/09/concrete-block-1537317-300x224.jpg)
Weekly Update 29 August 2022
We continue to hold a bearish view on stocks and keep the majority of the portfolio in cash.
![](https://triangulacapital.com/wp-content/uploads/2022/08/san-francisco-3-1218665-300x225.jpg)
Weekly Update 22 August 2022
Stocks fell 1% last week as the rally that had started two months ago showed signs of exhaustion.
![](https://triangulacapital.com/wp-content/uploads/2022/08/money-cash-flow-1537820-300x225.jpg)
Weekly Update 8 August 2022
Stocks rose slightly last week despite the Federal Reserve sending a message that it is “nowhere near” done with its fight against inflation. www.ft.com/content/010544f6-95ba-4d42-8c99-4556b1590816 The
![](https://triangulacapital.com/wp-content/uploads/2022/04/business-4-1246292-300x225.jpg)
Weekly Update 1 August 2022
Stocks rose strongly in July driven by weak sentiment, low expectations for company earnings which key companies exceeded, and lower interest rates. www.cnbc.com/2022/07/28/stock-market-news-updates-open-to-close-future.html The problem
![](https://triangulacapital.com/wp-content/uploads/2022/07/bank-building-1223895-225x300.jpg)
Weekly Update 25 July 2022
Stocks rose last week despite weak economic data which indicate the global economy may already be in a recession. “Excluding pandemic lockdown months, output is