Algebris Investments

The Algebris Bullet | The Myth of Exceptionalism https://lnkd.in/eaMFk3qZ US exceptionalism is fading as economic data weakens and uncertainty rises. Jobless claims are increasing, payroll growth is slowing, and consumer confidence is falling. Policy uncertainty is near 40-year highs, historically linked to economic downturns. Early policies, like public sector job cuts and trade restrictions, are contractionary, while tax cuts will take time to materialize. European assets are gaining interest, and credit markets offer selective opportunities. Rising volatility suggests markets may be underestimating the risk of a 2025 slowdown, favouring active investment strategies.

This week's Global Credit Bullets ➠ https://lnkd.in/eK2HPeqJ : In a historic shift, Germany broke free of fiscal shackles last week to announce a €500bn infrastructure package and uncapped military spending exempt from the debt brake. In the US, Trump walked back on Mexico/Canada tariffs yet again and US data continues to be on the soft side.

This week's Global Credit Bullets ➠ https://lnkd.in/efKYuazj : Friday’s talks between President Trump and President Zelensky derailed, leaving Europe effectively at a crossroad. Also, a look at global trade, US economics and the European Central Bank.

Global Equity Bullets, 26th February 2025 ➠ https://lnkd.in/enY_TA_r : In European equities, halfway through the Q4 earnings season Stoxx 600 Q4 EPS growth is running at 3% y/y comfortably above the -1% growth that consensus expected at this stage, with financials and healthcare delivering the main upside surprise. Also, a look at the taxing history in America and the $330B data centre gold rush.

This week's Global Credit Bullets ➠ https://lnkd.in/daXxmzRK : The CDU/CSU under Friedrich Merz won the German elections and will likely form a grand coalition with the SPD. This coalition is seen as market-friendly and pro-growth. In Ukraine, Zelensky offered to step down over the weekend in exchange for peace and Ukraine's Nato membership.

This week's Global Credit Bullets ➠ https://lnkd.in/dQfcKTre : Trump initiated direct peace talks with Putin to address the ongoing conflict in Ukraine. Moreover, a look at US tariffs and inflation.

This week's Global Credit Bullets ➠ https://lnkd.in/eStzVKQt : The US economy has proven resilient in yet another round of data releases. Also, a closer look at US politics.

This week's Global Credit Bullets ➠ https://lnkd.in/eHX2-yHj : Over the weekend, Trump used National Emergency powers to announce 25% tariffs on Mexico/Canada and 10% on top of existing China levels, effective February 4th. Also, a closer look at US economics and Central Banks.

We are always eager to provide our students with as many #opportunities as possible to learn and grow. The #AlgebrisTrainingCamp is one of these opportunities, offering students hands-on training in long-term #investment. Now in its sixth edition, the Algebris Training Camp 2025 officially began this week, and we are proud of our students who are embarking on this intense and transformative journey. Over the years, this initiative has become a cornerstone of our commitment to nurturing the next generation of #investmentLeaders. Thanks to the strong partnership between Algebris Investments and #Bocconi, the program has evolved into much more than a #learning experience – it is an immersive dive into the mindset, strategies, and skills required to navigate the complex world of long-term #investing. The #TrainingCamp is part of the Algebris #Chair in Long-term Investment and Absolute Return, a project firmly supported by Algebris founder #DavideSerra – a proud Bocconi Alumnus – and held by Professor Stefano Caselli, Dean of SDA Bocconi. "The goal of this initiative, which has involved over 250 students to date, is to work intensively for an entire week to answer a fundamental question," explains Professor Caselli. “And that question defines the essence of #finance: How do you become a #Global #Investor? This question goes far beyond numbers and markets. Being an investor means understanding the immense power of savings as a driver of innovation, growth, and development – a force that shapes the real economy, creates jobs, fosters social mobility, and builds a better future.” This year, we are thrilled to welcome over 40 talented students from six different nationalities, carefully selected from our #MScPrograms. For the entire week, they have been working side by side with #topIndustry professionals, leading academics, and experts, tackling key topics. But they are doing more than just absorbing #knowledge – they are putting it into #action. Working in teams, they develop real investment strategies and present them directly to Algebris representatives and Professor Caselli in a high-stakes, real-world challenge. As Caselli so powerfully puts it: "Our goal is to train a new generation of investors capable of generating economic value and social impact. Investing is about shaping the future, and that requires financial literacy, passion, and talent." "It was the most #stimulating experience of my journey at Bocconi. They inspired us and made us dream, giving us that extra push to face the future with greater ambition and a clear competitive edge" says our student Lorenzo Carboni. We are incredibly proud of our students' #dedication and ambition to this experience. Watching them step up to the challenge, engage with world-class professionals, and push their limits is what makes this community so special. And we know that the #lessons they will take from this week will stay with them long after the Training Camp ends.

This week's Global Credit Bullets ➠ https://lnkd.in/daD3M_CV : Donald Trump was inaugurated last Monday as 47th president of the United States. Also, a look at Central Banks and the Bank of Japan.