Reichmuth Pilatus
Successful thanks to innovation and value culture?
With Reichmuth Pilatus, we have been investing in innovative Swiss small companies for almost 25 years – a true success story. In this video you can see how we got there, on what we put emphasize on with respect to stock selection and how we generally manage this particular portfolio.
«The ‘human’ factor plays a central role in the selection of stocks; this is true for the company’s management, its board of directors and other stakeholders.»
Research, Head of Investment Policy
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News
Market commentary 4th quarter 2026
Higher interest rates, geopolitical uncertainty, and growing doubts about the AI boom are currently causing increased nervousness in equity markets. While we expect heightened volatility in the short term, we remain positive on equities over the medium term. Within the AI theme, we continue to focus on companies benefiting from the expansion of AI infrastructure, increasingly on successful adopters of AI, as well as on diversification opportunities that make portfolios more resilient.
AI Euphoria: Why Security Matters Again
Signs of an AI bubble are mounting. Valuations are at record levels, leverage in equity markets is increasing, and the euphoria surrounding AI and technology companies continues unabated.
AI Remains a Key Driver – Selectivity Is Becoming Increasingly Important
Leading US technology companies are set to continue investing substantial sums in artificial intelligence. Increasingly, however, their stock-market performance will depend on whether this spending translates into higher revenues and wider margins.