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Further information

More detailed information on all of our services and offerings specific to your requirements is available separately and upon request.


Investment philosophy: a structured approach

Our underlying investment philosophy reflects our beliefs with respect to the basic mechanism and functioning of financial markets. It underpins our approach to analyzing markets and to the way we evaluate the economic environment or individual companies.

 

Thus, in guiding our investment decisions and allowing us to define what we are looking for in precise detail, it forms the basis for all processes within Pictet North America Advisors. This philosophy is founded upon the following principles:

 

  • The price of a financial asset should reflect the current value of its future cash flows.
  • In reality, the prices of financial assets deviate from their level of equilibrium, sometimes over an extended period of time.
  • In the long term, the price should return to its level of equilibrium.
  • The nature of market inefficiencies varies over time, but there are always some opportunities worth seizing.
  • The valuation level at any given time is no indication of a financial asset's immediate return but is significant in the long-term (five years or more).
  • A stock's equilibrium level depends on the relationship between the returns and the cost of capital of the company in question.
  • Inflation and interest rates lie at the heart of market mechanisms.
  • In the short to medium term, there is greater certainty in anticipating economic trends on the basis of financial market developments than vice versa.

 

Regular checksOnce implemented, the investment strategy needs constant reviewing to ensure that portfolios are permanently adjusted to optimize the composition and choices implemented in an ever faster-changing financial environment.

 

 

 

The information on this page is provided for informational purposes only and the services of Pictet North America Advisors SA are available only to its clients.

 

Additional legal information

 

Updated ADV II

 

In accordance with Rule 204-3 of the Investment Advisers Act of 1940,Pictet North America Advisors SA is required to offer its clients a copy of its disclosure brochure (Form ADV Part II) at least on a yearly basis. As a result, we would be delighted to provide our clients with a copy of our most recent version upon request.

Request updated forms