DECALIA Asset Management Series
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You don’t turn a dolphin into a shark…
Last week’s rate decisions were really a story about tone, perception and thus credibility, as much as policy. The Fed delivered the hawkish decision markets had been braced for and then some: a 25bp hike to 3.75%–4.00%, its first increase since July 2023, passed by a unanimous 12-0 vote, a decision that came unanimously according […]
DECALIA Asset Management Series
The next big idea may not come from the biggest name. How wide is your investment radar? Swipe for DECALIA’s perspective on innovation.
Annuler la dette française, une proposition aussi alléchante que dangereuse
Dans sa chronique publiée dans Le Temps, Alfredo Piacentini, Managing Partner de DECALIA, analyse les risques liés à la trajectoire budgétaire française et à la tentation d’un effacement partiel de la dette. Déficits persistants, coût de financement en hausse, pression sur l’inflation et la confiance des investisseurs : la situation française contraste fortement avec celle […]
Playing like a (economic) superpower
I’m on holiday this week and hadn’t planned on writing anything this morning. But between Cagliari’s start to the season and what’s about to happen at the Fed (and the BoJ, for that matter), the circumstances struck me as exceptional enough to warrant a few lines anyway. As I write this, interest rates aren’t the […]
The Energy Sword of Damocles
Equities and credit are trading near their highs, but above that apparent calm hangs at least one genuinely uncomfortable thread: energy prices. The trigger isn’t hypothetical as the Strait of Hormuz has been effectively paralyzed since end of February, with daily tankers crossings down from about 60 to basically none, Gulf crude exports divided by […]
L’occident est-il vraiment à court de missiles ?
Les grands médias américains s’inquiètent d’un épuisement des stocks militaires du pays, en particulier des intercepteurs défensifs avancés et des missiles de précision à longue portée, du fait du conflit prolongé avec l’Iran. L’Ukraine, quant à elle, subit presque quotidiennement des attaques aériennes russes à grande échelle et un manque d’intercepteurs haut de gamme la […]
Too much of a good thing
Sometimes the scoreline lies. Yesterday’s Serie A clash between Cagliari and Inter ended in a narrow, almost respectable 1-0 defeat for my beloved team. The kind of result that, taken at face value, suggests a tight, competitive affair. Dig into the underlying numbers, however, and a far less flattering picture emerges: 31 shots, 7 on […]
EAM Days Geneva 2026
Dans un secteur où l’information est partout, la véritable différence se joue dans l’expertise. À l’occasion des EAM Days Genève organisés par Sphere, Sébastien Demole, Partner et Responsable de la Gestion privée chez DECALIA, participera au panel « Se spécialiser pour se différencier ». Un échange autour d’une conviction forte : la spécialisation n’est pas […]