Saturday Morning Post (May 22th) by Luc De Vos

Dear Reader,

Main article of this week is about the German Robinhood equivalent Trade Republic that managed to raise $900M at a valuation of $5B. Note that this Berlin based startup series C-round is led by Sequoia a top notch VC based in the US. This proves once again there are no lead risk takers of any significance in Europe.

On top of this a Bloomberg post today says: “Euro Stoxx 50 beating all major regional benchmarks in 2021” and Morgan Stanley eyeing Europe. How weird can it be that Europeans are sitting ducks in a game where they perform best but are at same time eaten by other continents with more guts?

Last but not least remarkable past week was a statement of the ECB about “remarkable exuberance” of the markets. It makes every one and all of us of course remind on the historic words of FED Alan Greenspan in 1996 about “irrational exuberance”. This predicted a dot-com bubble… although the bubble burst was only 4 years later. Let’s see if this kind of ‘exuberance’ leads to any burst in 2025. 😊

Happy reading


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