Cross-Asset Thematic Strategy, Edelscourt

Albert Maass

Albert brings over three decades of experience from the financial industry, having worked with top institutions across the UK, Americas, and Asia. His broad expertise spans investments in multiple asset classes and extends to risk management.

In a previous role, Albert served as the Head of Alternative Investments at Shinsei Bank in Japan, where he oversaw a varied portfolio comprising private equity, hedge funds, reinsurance, credit, and other assets. His distinguished career has seen partnerships with prestigious institutions such as HVB, the European Bank for Reconstruction and Development, Nomura International, Mariner Investment Group, Allied Capital Asset Management, and the Central Bank of Chile.

Albert is a certified Financial Risk Manager (FRM) and is an alumnus of the Universidad Católica de Chile, with a degree in Business and Economics

Cross-Asset Thematic Strategy

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

There are striking parallels between 1929 and 2018.  The 1929 crash put a halt to a nine-year bull run on the market.Up until October 1929, same as this year, market consensus was that asset prices could only go up from their current level.As we mentioned in <a href="https://www.smartkarma.com/insights/when-the-tide-goes-out-dominoes-fall" target="_blank">When the Tide Goes Out, Dominoes Fall</a>, a decade of building up excesses meant a painful burst, back 79 years ago: between October of 1929 and September of 1932, eighty-nine percent of the value of stocks was erased and the market didn’t recover to its former peak until 25 years later.Are we in a similar situation right now?

There are striking parallels between 1929 and 2018.  The 1929 crash put a halt to a nine-year bull run on the market.Up until October 1929, same as this year, market consensus was that asset prices could only go up from their current level.As we mentioned in When the Tide Goes Out, Dominoes Fall, a decade of building up excesses meant a painful burst, back 79 years ago: between October of 1929 and September of 1932, eighty-nine percent of the value of stocks was erased and the market didn’t recover to its former peak until 25 years later.Are we in a similar situation right now? 

Are US Stocks Still Expensive?