Monthly Report, August 2026

Well, well… a major hedge fund collapses…

• The “Situational Awareness” fund on the brink of collapse.
• It is always the same story.
• Microsoft and Amazon “are getting the house in order”.

What consequences can we expect for the markets?

The binary view of the market – namely, a positive outlook on AI and a negative outlook on the software sector and hyperscalers – is over. Going forward, investors will need to take a more nuanced approach and analyse individual stocks in these sectors, even though the revolution brought about by AI remains unquestioned.

– by Kim Muller, CIO (Switzerland)

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