Articles written by Angel Sanz

  • Chart of the Month – Bitcoin by Angel Sanz, Jan 8 2018

    Bitcoin The chart above shows the price of bitcoin, a so-called cryptocurrency. Bitcoin has been appreciating for several years, but it has exploded during the last 12 months with a performance of 1600%. During the last 5 years Bitcoin has gained a staggering 10900% versus the USD. Bitcoin is a digital currency created in 2009. […] read more

  • Chart of the Month – Time to invest in European banks equities by Angel Sanz, Oct 3 2017

    Time to invest in European banks equities Banks have been underperforming dramatically since the burst of the bubbles in 2008, especially in the European market, but since the middle of 2016 the trend has been reversed. The graph shows the following information: Blue line: Price evolution. Minimum was touched in July-2016 Red line: Earnings Per […] read more

  • Swimming against the tide: picking an out-of-favour manager by Angel Sanz, Jun 13 2017

    Angel Sanz is answering City Wire‘s question about funds’s selection: “Picking an out-of-favour manager may prompt investors to question your selection methods but which funds have you stood by and benefited from despite all signs telling you to sell out? Who repaid your faith in their potential and became a top contrarian call?” Picking-up a […] read more

  • Perception vs. Reality: Are (more business friendly) Republican Presidents better for the Equity Market? by Angel Sanz, Mar 10 2017

    Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional;  System 2: Slow, deliberative and logical. We can say that System 1 resembles  the PERCEPTION, […] read more

  • Chart of the Month – Drivers of US GDP growth: Can the US grow faster? by Angel Sanz, Jan 16 2017

    DRIVERS OF US GDP GROWTH: CAN THE US GROW FASTER? Before the US election, the consensus view was that potential growth for the US economy was about 1.5% – 2.0%. After Trump won the elections, many market players are discounting higher growth rates due to the coming deregulation and fiscal stimuli. Whether this potential growth […] read more

  • Perception vs. Reality: US Election by Angel Sanz, Nov 10 2016

    Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional;  System 2: Slow, deliberative and logical. We can say that System 1 resembles  the PERCEPTION, […] read more

  • A (deep) contrarian view #2: Buy Sterling Pound Vs. Us Dollar by Angel Sanz, Oct 17 2016

    BUY STERLING POUND VS. US DOLLAR CURRENT SITUATION On June 23rd, UK citizens voted to leave the European Union (Brexit). The GBPUSD rate was 1.481 before the referendum. Two days later GBP had fallen 10.8% to 1.321. After that date, the currency has been more or less stable until October 2nd, when the new UK […] read more

  • Perception vs. Reality: Should we blindy buy high dividend yield stocks? NO. Should we buy increasing dividend yield stocks? YES. by Angel Sanz, Sep 29 2016

    Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional;  System 2: Slow, deliberative and logical. We can say that System 1 resembles  the PERCEPTION, […] read more

  • Perception vs. Reality: Are Equity Emerging Markets linked to Commodities? No. by Angel Sanz, Aug 22 2016

    Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional;  System 2: Slow, deliberative and logical. We can say that System 1 resembles  the PERCEPTION, […] read more

  • A (deep) contrarian view: Buy the basket of top holdings in US Hedge Funds by Angel Sanz, Jun 6 2016

    BUY THE BASKET OF TOP HOLDINGS IN US HEDGE FUNDS CURRENT SITUATION 2016 has been a very tough year for active managers, especially in the equity US market (both hedge funds and long only funds). From 31-Dec-15 to 30-April-16, the SP500 NTR has gained 1.73% whereas the Tremont Long-Short Index has dropped 4.52%. Several reasons […] read more