Thinking out loud
We regularly publish our reading of the markets. Dated, argued and signed by the people who manage. Which means you can judge our past analyses before entrusting us with anything.
What we are writing at the moment
How Wall Street is securitising the AI boom
A growing share of AI financing runs through structures that stay invisible in traditional debt ratios. As a result, risk is migrating from banks to private credit, insurers, pension funds and, at the end of the chain, long-term savings.
All our analyses
Twenty-five publications since February 2024, in order of appearance. None has been withdrawn, including those the markets went on to contradict. The pieces themselves are published in French.
Who writes these analyses
Two members of the management team, who also run portfolios. What they write commits the decisions they take.
How to read these analyses
The views of their authors
The analyses we publish express the view of their authors on the date of writing. They constitute neither investment advice, nor a personal recommendation, nor an invitation to buy or sell a financial instrument.
A dated snapshot
Each piece reflects the market conditions of its moment. We do not update it afterwards, and we do not withdraw the analyses that events went on to contradict. The date of publication should therefore be read alongside the content.
Your situation first
None of these analyses takes account of your circumstances, your objectives or your horizon. An investment decision calls for a conversation of its own, which we are glad to offer.
The funds mentioned
Where a piece refers to one of our funds, it is a marketing communication. The prospectus and the Key Information Document remain the only basis for a subscription.