The markets do not stop. Investors are divided. The more sophisticated ones, the institutions, tend to focus their attention on multiples that are, especially in the United States, certainly bloated. The more cautious part of small investors continues to wait for a correction (to buy more) while the online trading population grows and lets itself be dragged by the rises. In October, the Dow Jones rose by 2,5%, the S&P by 2,3%, the Nasdaq [...]
NOVEMBER COMMENT 2025 - ARTIFICIAL INTELLIGENCE, LIQUIDITY AND GEOPOLITICS