It is not only on the geopolitical front, with Iran, Venezuela or Greenland issues; or in the US domestic political arena with Trump’s incessant statements, threats and gyrations on Fed’s independence -among many others-; or on the US stock market, with the uninterrupted YTD outperformance of small caps and the underperformance of the Mag7, that […]
Why are private credit secondaries attracting so much attention right now? Private credit has grown 4.6x since 2014 and with scale comes a growing need for liquidity solutions.Secondaries are emerging as one of the most under-explored opportunities in private markets today. In this edition of our Private Markets Series, DECALIA explores:• why the secondaries market […]
Happy New Year and best wishes for a healthy and prosperous 2026! The first full week of trading on markets was already eventful… Should we have expected something else? Ironically, we are generally dealing with the same questions and concerns at the beginning of this year as we were last year. As a result, my […]
By Quirien Lemey, Co-Lead PM for DECALIA Sustainable Society strategy We have seen the market increasingly worry about a potential AI bubble, and hence seen some violent moves in the past few weeks. Even stellar results from Nvidia, their largest and cleanest beat in a while, didn’t change the narrative. Moreover, more than half of […]
Written by Alfredo Piacentini, Managing Partner of DECALIA As we draw up the 2025 year-end assessment, index performances closed in positive territory. Yet for investors and portfolio managers, the year has been anything but smooth sailing. It has been marked by heightened geopolitical tensions and economic challenges, with equity markets experiencing both an unusually high […]
Artificial intelligence (AI) is driving a rapid and profound transformation of business models in the software, consulting and IT services sector. The number of corporate clients recently put forward by OpenAI and Anthropic, one million and 300,000 respectively, reflects an adoption rate far higher than anticipated, fuelling stock market nervousness and weighing on valuation multiples. […]
This is my last weekly letter of the year. So, it’s time to step back and look at how I scored on my 10 predictions for 2025. Even if the year isn’t officially over yet, we can already affirm that it has been an incredible eventful and fascinating year on markets (once again!), which have […]
For once, the title of my editorial has nothing to do with Cagliari’s incredible victory over Roma last week or the supernatural goal scored against Atlanta yesterday… but rather with what is happening on the US repo market and the concerns this seems to be raising within the Fed. As widely expected, the Fed cut […]
