Pietari Laurila
Pietari Laurila @triangulacapital

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Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 4 ᴍᴀʏ 2026 AI stocks have been among the best performers globally this year. Micron Technology is up 90%, South Korean equities 70%, Alphabet Inc. 20%. In private markets, OpenAI and Anthropic are raising capital at valuations approaching $850 billion, roughly double where they stood just... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 27 ᴀᴘʀɪʟ 2026 The portfolio has lagged the index so far in 2026, in what has been a difficult environment for European cyclical stocks exposed to growth sentiment and higher energy prices. Several holdings in the portfolio have declined by 20% or more year to date. At the same time,... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 20 ᴀᴘʀɪʟ 2026 Many investors have compared the current Middle East crisis with 2022, when markets initially recovered after Russia’s invasion of Ukraine before falling much further. But there are several important differences this time. First, the energy shock has so far been smaller.... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 13 ᴀᴘʀɪʟ 2026 Several stocks in the portfolio have declined as a result of the war in Iran, among them the following: 1. Vonovia, a German residential real estate landlord, fell 20%. Higher oil prices have pushed up near-term inflation expectations, leading investors to anticipate tighter... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 6 ᴀᴘʀɪʟ 2026 A few tentative positive signs about the war in Iran have emerged in the last week: 1. More ships are crossing the Strait of Hormuz than in previous weeks, although absolute numbers remain low. Markets frequently trade on the rate of change - whether things are improving... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 30 ᴍᴀʀᴄʜ 2026 The MSCI World index has fallen 5.5% this year, largely owing to the war in Iran and the rise in interest rates caused by higher oil prices. The situation is little changed from last week, with oil still trading around $110 per barrel. At this level, oil is likely to reduce... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 23 ᴍᴀʀᴄʜ 2026 This could turn out to be bad — or very, very bad. It could also be fine. Most investors still expect Trump to chicken out, as he has done before. That belief helps explain why the MSCI World index is down only 5% year-to-date. There may indeed be a 50% chance that the... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 16 ᴍᴀʀᴄʜ 2026 The most difficult periods for my strategy have historically been those when the economy weakens, especially when it happens abruptly and unexpectedly. The most recent example was February–March 2020. I did not anticipate the economic impact that COVID would have on the... 顯示更多 翻譯
Pietari Laurila
Pietari Laurila
阿拉伯聯合大公國
ᴡᴇᴇᴋʟʏ ᴜᴘᴅᴀᴛᴇ 9 ᴍᴀʀᴄʜ 2026 The portfolio entered the war in Iran in about the worst possible position: heavily exposed to banks, travel companies and the UAE. My view had been that the global economy was strengthening, with the expansion likely continuing until at least mid-2026. Being positioned... 顯示更多 翻譯

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