Global growth |
Hong Kong surprises positively. (page 2) Global economy is worsening based on at least one measure. (page 3) Industrial production remains positive. (page 4) |
Sentiment |
Sentiment gauges, when averaged, remain falling. (pages 5-7) |
US |
There are no alarm bells going off from consulting a consumer sentiment gauge or an economic health check. (pages 8-9) |
France |
Business sentiment is falling mildly. (page 10) |
Ineichen Research and Management ("IR&M") is a research firm focusing on investment themes related to absolute returns and risk management. IR&M was founded in 2009 and is an independent company, fully owned by Alexander Ineichen. IR&M is based near Zug, Switzerland, a healthy distance to the main epicentres of mainstream financial thinking. IR&M’s research is designed to improve its clients’ investment decision making. The basic premise is the idea that long-term success is dependent on survival and avoidance of large losses, i.e., the management of risk, not returns.
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