Switzerland is a European democracy, except that, unlike the UK, it is a well-managed democracy. They vote on everything, stay out of trouble, and, above all, they balance their budgets, only embracing deficits during major events such as the pandemic.
Index funds are one of the greatest financial innovations of all time. They offer a cheap and simple solution for large quantities of money to mimic market returns.
I’m getting very excited about this chart, which shows high-volatility stocks —the epicentre of the market bubble —and low-volatility stocks, which still haven’t noticed there’s been a bull market. The riskiest stocks have taken the lead, which is rarely a good thing.