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.
Weekly Update 8 May 2023
The regional banking crisis in the US spread to new companies
Weekly Update 1 May 2023
Investors still view European banks with skepticism and indifference.
Weekly Update 24 April 2023
If bank earnings continue to come in strong, we believe bank shares could bounce.
Weekly Update 17 April 2023
A confusing market environment with both bullish and bearish arguments.
Weekly Update 10 April 2023
There are many interesting seasonal patterns in the markets.
Weekly Update 3 April 2023
Our strategy returned +14% in Q1, beating the MSCI World index by 6 percentage points.
Weekly Update 27 March 2023
It looks like the first quarter of 2023 will end with a gain for stocks.
Weekly Update 20 March 2023
2023 has been a tough year for Value stocks.
Weekly Update 14 March 2023
All our US and European bank positions were sold on Friday, moving the majority of the portfolio into cash.
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.
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.
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.
Weekly Update 13 February 2023
Individual investors have turned optimistic for the first time since early 2022.
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.
Weekly Update 30 January 2023
A strong start to the year +14%.
Weekly Update 23 January 2023
Our base scenario is that the market continues to rally over the next 1-2 months.
Weekly Update 16 January 2023
A year rarely starts as well as 2023 has done.
Weekly Update 2 January 2023
2022 was a strong year for our strategy.
Weekly Update 19 December 2022
Despite current economic resilience, investors remain pessimistic about next year. Could this be wrong?
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.
Weekly Update 5 December 2022
If the economy holds up, we see 50%+ upside for many of the positions in our portfolio.
Weekly Update 28 November 2022
European equities are under-owned at the moment; cyclical European companies should outperform.
Weekly Update 21 November 2022
The S&P 500 index may fall to the low 3000s next year, possibly as early as Q1.
Weekly Update 14 November 2022
European banks are still cheap.
Weekly Update 7 November 2022
The portfolio is now 75% in cash.
Weekly Update 31 October 2022
We see a lost decade ahead for stocks.
Weekly Update 24 October 2022
It is hard to see where the next bad news that will drive stocks lower will come from.
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.
Weekly Update 10 October 2022
In the current circumstances, cash looks like a pretty good investment.
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.
Weekly Update 26 September 2022
We do not believe this bear market is over and target 3000 for the S&P 500.
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.
Weekly Update 12 September 2022
Stocks rose last week due to oversold conditions being reversed and Ukraine making progress in its war against Russia.
Weekly Update 5 September 2022
Stocks should fall 30% from here to reach fair value, according to a GMO model.
Weekly Update 29 August 2022
We continue to hold a bearish view on stocks and keep the majority of the portfolio in cash.
Weekly Update 22 August 2022
Stocks fell 1% last week as the rally that had started two months ago showed signs of exhaustion.
Weekly Update 15 August 2022
The inflation problem is far from being solved.
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
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
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
Weekly Update 18 July 2022
Some models indicate that the stock market is 40% overvalued.
Value Investing: Poor Recent Results Sow The Seed For Future Outperformance
Value stocks have underperformed growth stocks since 2006, but should be a good bet for this decade.
Weekly Update 11 July 2022
Soft landing – S&P 500 @ 4200.
Recession – S&P 500 @ 2900?
Weekly Update 4 July 2022
The share of cash in the portfolio was increased to 60%.
Where to Invest in the UK
Laurila, 41, follows a global investment strategy, but he sees defensive opportunities in the UK as well.
Weekly Update 27 June 2022
Another bear market rally started last week.
Meet The Professional DIY Investors Facing Up To Chaotic Stock Markets
Pietari is featured in today’s Telegraph.
Weekly Update 20 June 2022
We have turned very bearish on the economy and, hence, the market.
Weekly Update 13 June 2022
We decided to take the risk level of the portfolio down massively last week.
Weekly Update 6 June 2022
We hold a risk-on portfolio at the moment because the media narrative appears negative.
Weekly Update 30 May 2022
After the bullish action last week, stocks are no longer oversold, but we would not fade this rally too early.
Weekly Update 23 May 2022
Stocks fell for a seventh week in a row, briefly entering a bear market on Friday.
Weekly Update 16 May 2022
Stocks fell for a sixth week in a row as investors continued to worry about a recession in the US, inflation, China and Ukraine.
Weekly Update 9 May 2022
Stocks fell last week as higher interest rates weighed on valuations.
Weekly Update 2 May 2022
Stocks had a tough April. The S&P 500 index dropped 8.8%.
Weekly Update 25 April 2022
Stocks fell last week as concerns grew about the effect the Federal Reserve’s tighter monetary policy would have on the markets.
Weekly Update 18 April 2022
Last week we completed repositioning the portfolio into stagflation beneficiaries.
Weekly Update 11 April 2022
Stocks fell last week as the Federal Reserve’s tightening plans weighed on company valuations.
These are the stocks Pietari Laurila invests in now
Finnish newspaper Kauppalehti writes that Finnish investor Pietari Laurila has become one of the ten most popular investors on the eToro platform. “In the current
Weekly Update 4 April 2022
Q1 2022 was the worst quarter for stocks in two years.
eToro PI Spotlight: triangulacapital
In this video, @felixfallax takes a look at one of eToro’s most copied PIs, namely triangulacapital aka Pietari Laurila.
Weekly Update 28 March 2022
Stocks rose modestly last week, while interest rates surged.
Weekly Update 21 March 2022
Stocks rallied last week as progress was reported in negotiations between Russia and Ukraine.
Weekly Update 14 March 2022
Stocks fell last week as the Russia-Ukraine conflict continued to weigh on risk appetite.
Weekly Update 7 March 2022
European stocks fell 7% last week as the conflict between Russia and Ukraine continued to roil global, and especially European, markets.
Markets are Expensive but Not in a Bubble
Summary The U.S. stock market looks expensive, judging by the Shiller CAPE ratio. But CAPE should not be used to time the market. Persistently low
Weekly Update 28 February 2022
Russia attacked Ukraine last week. The markets fell in shock on Thursday before recovering on Friday. On the weekend, additional sanctions against Russia were announced,
Weekly Update 21 February 2022
Stocks fell last week for the second time in a row as tensions between Russia and Ukraine escalated.