Executive Summary
UBS Chief Investment Officer Burkhard Varnholt presents a compelling counter-narrative to year-end profit-taking conventional wisdom. While most investors debate whether to lock in 2025 gains, Varnholt argues the current bull market is entering its most profitable phase—the technology productivity spillover from the Magnificent 7 to the broader market. His 'Magnificent 493' thesis suggests over 60% of non-mega-cap stocks now trade above their 200-day averages, signaling the beginning of a multi-...
Key Investment Opportunity
European Market Catch-Up Play via Technology Spillover
Varnholt specifically mentions the bull market has 'broadened to Europe' and cites Swiss innovation as exemplifying how technology productivity gains will spread beyond US mega-caps. European markets have historically lagged US tech but could benefit disproportionately as AI/automation tools become ...
...and 1 more investment opportunities
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