What the Papers Say

Can big tech continue to dominate?
Valuations of big tech firms have soared in recent years, with a significant boost to share prices during the Covid-19 pandemic. The widespread shift to working from home and reliance on e-commerce has also increased revenues for these mega-cap firms.
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Return of the sleeping giants: Which unloved stocks are fighting back from the pandemic?
This year has been a particularly challenging one for investors, with the global pandemic causing a sharp divergence in performance between certain sectors. With news of effective vaccines now dominating the headlines – and the outlook – we have seen
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The major risk that isn’t priced into passive funds
Many passive investors may be left holding companies that face major downside due to climate risks and other ESG risks, according to fund managers. Whether it is in the form of extreme weather events or the transition to a lower
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Big tech and ESG: Index giants falling short on standards
Investors are not generally aware of the poor ESG credentials of the world’s largest internet companies, which despite their heavy weighting within global ESG indices are responsible for a sizeable environmental impact, and pose risk to investors by virtue of
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BBC World Service: The Inquiry – Are shares in Elon Musk’s Tesla vastly overvalued?
In 2018, the electric car maker, Tesla, was struggling to get the Model 3 electric vehicle off the production line. Its CEO, tech entrepreneur Elon Musk, was working up to 22 hours a day on the factory floor, trying to
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Did Warren Buffett really learn to love Tech IPOs?
Berkshire Hathaway invests in a tech IPO Snowflake’s amended S-1 this week raised eyebrows for a few reasons. One was its huge valuation: Its proposed price range values the company at up to $23.7 billion, way higher than the $12.4
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Big Tech’s blockbuster earnings undermine their arguments to Congress that they aren’t that big
Four of the biggest tech companies in the world – Amazon, Apple, Google, and Facebook – announced stronger-than-expected second-quarter earnings on Thursday, defying worries about Wednesday’s antitrust hearings and an ongoing pandemic.  The strong results from the four companies, often
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Amazon doubles quarterly profit despite Covid-19 costs
Lockdown shopping helped boost revenues by 40% at ecommerce leader Amazon’s profile soared in its second quarter, despite heavy costs relate to the coronavirus pandemic.  Locked -down shoppers drove sales 40 percent higher- year on-year, to $88.9bn, helping the company record
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Amazon Fresh: What does the expansion mean for UK supermarkets?
Amazon’s announcement that it will offer free grocery deliveries for Prime customers represents a step up in competition between the internet giant and the UK supermarkets.  The US company, which bought upmarket grocery chain Whole Foods in 2018, will offer
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Dettol empire looks squeaky-clean
All chief executives need a bit of luck. But even Laxman Narasimhan couldn’t have dreamt of this. The new Reckitt Benckiser boss has got himself apandemic. What better for his “relentless pursuit of a cleaner and healthier world”? Yes, of
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European Analysts Face Earnings ‘Tsunami’ in Work-from-Home Era
Commuting less means working more for J. Stern’s Kosmopoulou Investors and analysts are preparing for the busiest day so far this year for European corporate results when firms worth more than $2 trillion report their latest figures on Thursday. This
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Light on tech, heavy on banks – has Warren Buffett lost his touch?
Too big. Too slow. Too old-fashioned. Criticism mounts after Berkshire Hathway’s bad run When the When the Financial Times interviewed Warren Buffett last year, he predicted that future returns from his company Berkshire Hathaway and from the US stock market
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UK equity sales top £10bn since pandemic struck
At least 69 companies have issued equity valued at £5m or more since the middle of March UK-listed companies have tapped shareholders for more than £10bn since the Covid-19 pandemic took hold, with some looking to top up acquisition war
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Pension Age Podcast: Global Equities – Current perspective and outlook
Pensions Age Editor, Laura Blows, speaks to Christopher Rossbach, CIO and Portfolio Manager of the J. Stern & Co. World Stars global equity strategy about the investment opportunities for global equities in these unprecedented times. Pension Age Podcast: Global Equities
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J. Stern & Co. World Stars: The global equity fund seeking quality over quantity
Although the Stern family’s connections with banking and the provision of financial services across Europe can be traced back more than 200 years, it is only in the last year that it has delved into the world of fund management
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Google owner Alphabet becomes trillion-dollar company
Tech giant is the fourth US firm to achieve the valuation-after Microsoft, Apple and Amazon Google’s owner Alphabet has become a trillion-dollar company for the first time, making it only the fourth US firm to reach the bumper valuation. Alphabet’s value,
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Amazon: the $1 trillion question
In a peer group of US tech firms which have in recent years routinely traded at valuations well above 20x forecast earnings, it may seem counterintuitive to ask if a stock is materially undervalued. On the face of it this
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Pension Age: Global equities – A world of opportunities
Global equities: General sentiment Chair: Why should investors be looking at global equities today? Rossbach: When it comes to investing, if you are looking to preserve and increase the value of assets over the long term, investing in the global
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Citywire Wealth Manager Article: 200 year old private office launches Terry Smith fund rival
A private office steeped in two centuries of banking heritage is launching a fund to rival to Terry Smith’s successful Fundsmith Equity Fund. London and Zurich-based J Stern and Co., which has acted as the family office of the Stern
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FT Article: Why Walpole positioned gloom against greenery in Strawberry Hill
“The excellent exhibition of the Lost Treasures of Strawberry Hill closes on Sunday evening at Strawberry Hill in Twickenham, west London. It is unmissable. It corrects ideas of Georgian taste as a Golden Age of classicism only. Paintings and items
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Tech Rally puts Nasdaq on cusp of exiting bear market
The Nasdaq Composite is on the cusp of exiting a bear market, rebounding nearly 20% from its Christmas Eve low and highlighting the resilience of the technology shares that have long powered the market higher. The index heavily weights shares
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Healthy Consumers Force Drinks Firms to Adapt
Those aged between 35 and 54 are most likely to take part in the challenge and it is thought around two-thirds of people who attempt the month-long abstinence from alcohol succeed. Consumers are becoming increasingly health-conscious and mindful about what
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Amazon signals more spending even as growth slows
Amazon signalled that it would be ramping investment back up in 2019, even as its stellar revenue growth slows, sending its shares lower. The online retailer delivered its third consecutive record quarterly profit at the end of 2018 but raised
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Google costs on the rise as parent company Alphabet earnings slip
Google parent Alphabet reported thinner profit margins as the internet giant spent heavily to expand its cloud and YouTube businesses. The company’s shares slipped in late trading. Google’s fourth-quarter capital expenditures jumped 80 per cent to $6.85 billion. The company’s
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FT Article: Amazon signals more spending even as growth slows
“We believe that the company remains very well positioned for the long term with unassailable competitive positions in their existing large and growing markets,” said Christopher Rossbach of J Stern & Co, a private investment office in London. “Additionally, their
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City AM Article: Facebook’s share price plunges as markets open, losing more than $120 bn off its market value
Christopher Rossbach is quoted in City AM on Facebook’s Q2 results City AM Article: Facebook’s share price plunges as markets open, losing more than $120 bn off its market value Posted on Jul 2018 “The guidance from management over their
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Reuters Article: Cultural mix a hidden weapon in Nestle CEO’s activist
Nestlé is facing a challenge from activist investors. We look to engage with the companies we invest in and look to build strong relationships with their managements over time. We will also stand up for what we think is right
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Financial Times Article: Is Warren Buffett’s Apple bet a value trap?
Berkshire Hathaway has lifted its stake in Apple Christopher Rossbach, our CIO, asks in the FT if they could be missing better options? Financial Times Article: Is Warren Buffett’s Apple bet a value trap? Posted on May 2018 Is $100bn
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Forbes Article: How Esports Will Win The Future And So Will Activision
We were pleased that our investment case for Activision Blizzard, the leading video game company we wrote about in July’s insight piece on the emerging eSports industry, was recently picked up in a Forbes investment column. Forbes Article: How Esports
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Private Office article: Taking the Right Risks
Jerome Stern, our CEO, writes in City Wire’s Private Office Magazine about the key challenges for families as they seek to preserve and increase wealth over generations. Private Office article: Taking the Right Risks Posted on Jun 2017 Tempora mutantur
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STEP Journal Article: Year in, Year out: A Case Study
In the STEP Journal: Volume 25/ Issue 3 Jérôme Stern, our CEO, discusses the move from an operating business to an investment business, and provides a case study detailing why his family business chose this route STEP Journal Article: Year
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Reuters Article: Adobe tops estimates on higher Creative Cloud subscriptions
Christopher Rossbach, our CIO, quoted by Reuters on Adobe System’s latest results. Reuters Article: Adobe tops estimates on higher Creative Cloud subscriptions Posted on Mar 2017 “Adobe’s strong quarter strengthens our conviction that its two businesses can generate sustainable double-digit
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Bloomberg article: Perry’s Retreat Piles Pressure on Hedge Funds Chasing Deals
Christopher Rossbach, our CIO, quoted on Bloomberg Markets on Richard Perry’s decision to quit. Bloomberg article: Perry’s Retreat Piles Pressure on Hedge Funds Chasing Deals Posted on Sep 2016 “It’s a sign of the dramatic changes in the investment environment
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Citywire article: Passing the baton
Jerome Stern, our CEO, interviewed by Citywire, Wealth Manager on how family offices can survive succession. Citywire article: Passing the baton Posted on Sep 2016 Succession planning is to become one of the greatest risks for family offices as 43% expect
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Fin news Article- Sabina von Arx joins J. Stern & Co.
A top Swiss banker and veteran of Morgan Stanley’s private bank has been named partner of J. Stern & Co., finews.ch can reveal. She moves to the London-based family office after a short stint with independent wealth manager Sound Capital
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FT Article – Buffett takes internet disrupters out of the box labelled ‘too hard’
Chris Rossbach writes in the Financial Times on the recent Berkshire Hathaway Annual Meeting and the change in Buffett’s focus. FT Article – Buffett takes internet disrupters out of the box labelled ‘too hard’ Posted on May 2016 Read full
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A Voice from the Grassroots: The CFA UK Women’s Network
Katerina Kosmopoulou, one of the firms partners and vice-chair of the CFA’s Women’s Network, speaks in CFA’s Professional Investor on the development of the Women’s Network and its wider importance in the industry. A Voice from the Grassroots: The CFA
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Business Family Article: FAMILY OFFICE THEMES FOR 2016
Jerome Stern, our CEO, interviewed by business family on the big family office themes for 2016. Business Family Article: FAMILY OFFICE THEMES FOR 2016 Posted on Dec 2015 By Jeremy Hazlehurst  What will family offices be talking about in the year
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FT Wealth Article: The 30% Club How women have taken over the old boys’ network
Elizabeth Passey, one of our Senior Advisors and a member of the 30% club, featured in today’s Wealth Manager Magazine FT Wealth Article: The 30% Club How women have taken over the old boys’ network Posted on Dec 2015 ​
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CFA Article: Next Top Role Models: the key to more women in investment
Our partner, Katerina Kosmopoulou, on increasing the representation of women in investment positions in an article by the UK CFA Society. CFA Article: Next Top Role Models: the key to more women in investment Posted on Oct 2015 Our partner,
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University of Glasgow Appoints New Convener of Court
We are very proud to share the news that Elizabeth Passey has been appointed a new Covenor of Court at the University of Glasgow. University of Glasgow Appoints New Convener of Court Posted on Oct 2015 We are very proud
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Family Office Costs are up but Growth Will Challenge Private Bank
Jerome Stern, our CEO, featured in today’s Wealth Manager. Family Office Costs are up but Growth Will Challenge Private Bank Posted on Oct 2015 Jerome Stern, our CEO, featured in today’s Wealth Manager commenting on the how the rising cost’s
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Financial Times Editorial: The importance of knowing your rights and standing up for them in long-term investments
Please read Christopher Rossbach’s op-ed published in the Financial Times on April 19, 2015 Financial Times Editorial: The importance of knowing your rights and standing up for them in long-term investments Posted on Apr 2015 Please read Christopher Rossbach’s op-ed
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Family Office Summit March 2015
Chris Rossbach, our CIO, was asked to participate in a panel on value vs. momentum investing at the Family Office Summit. Family Office Summit March 2015 Posted on Mar 2015 Chris Rossbach, our CIO, was asked to participate in a
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Wealth Manager 2014 “Cover Star Club”
We hope everyone had a happy holiday break and a good start to 2015! Wealth Manager 2014 featured us in their “Cover Star Club”. Wealth Manager 2014 “Cover Star Club” Posted on Jan 2015 Wealth Manager 2014 featured us in
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J. Stern on the Financial Times Lex Blog
Amazon is like Walmart – but circa 1974 or 1991? Chris Rossbach, our CIO here at J. Stern. & Co., versus FT’s Lex – you decide! J. Stern on the Financial Times Lex Blog Posted on Nov 2014 Lex has
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Value Investment Conference November 2014
Chris Rossbach is an instructor at European Investing Summit 2014, a conference for investors looking to uncover great value ideas in Europe, which took place on November 4-5, 2014. Value Investment Conference November 2014 Posted on Nov 2014 For the
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The Governor of Mendoza Province (Argentina) met with six major investors in the UK
Jerome Stern met with the Governor of Mendoza Province, representing one of six investors based in the UK. The Governor of Mendoza Province (Argentina) met with six major investors in the UK Posted on Oct 2014 Jerome Stern met with
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Family Office Intelligence Podcasts
Jerome Stern gives a podcast for an episode of ‘A Conversation With’, hosted by Carl Roberts of Family Office Intelligence – part of Incisive Media. Jerome discussed the practice of long term value investing for families as a way to
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J. Stern & Co. founders writing the next chapter of history
Read the article in Wealth Manager (citywire.co.uk), published August 7, 2014. J. Stern & Co. founders writing the next chapter of history Posted on Aug 2014 Read the article published in Wealth Manager (citywire.co.uk) on August 7, 2014:  “J. Stern & Co
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London Fireside Chat
Topic: “US-EU relations, Ukraine and more: A real-time perspective from the treasury” with Michael N. Pedroni, Senior Financial Attaché of the US Department of the Treasury. London Fireside Chat Posted on Mar 2014 Topic: “US-EU relations, Ukraine and more: A
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European Family Office Winter Symposium, OPAL
European Family Office Winter Symposium, OPAL. Jerome Stern invited as panelist. February 2014. European Family Office Winter Symposium, OPAL Posted on Feb 2014  Jerome Stern invited as panelist. February 2014. « Back to News
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Articles and engagements throughout 2013.
A list showing articles and some of our Partner’s engagements throughout 2013. Articles and engagements throughout 2013. Posted on Nov 2013 Bespoke Equities and Fixed Income Investment Meeting, Bespoke Connections. Jerome invited as part of opening panel. November 13, 2013
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Interviews with
J. Stern & Co.

CNBC Interview: Amazon revenue growth shows strength across the business
Christopher Rossbach, chief investment officer at J. Stern & Co, discusses Amazon’s latest quarterly earnings report. View the interview here
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CNBC Interview: Amazon confirms ability to generate both revenues and profit
Christopher Rossbach, our chief investment officer, discusses e-commerce giant Amazon’s latest earnings report. CNBC Interview: Amazon confirms ability to generate
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Jerome Stern Interviewed by Family Capital
Jerome Stern, interviewed in Family Capital on the future of Single Family Offices Jerome Stern Interviewed by Family Capital Posted
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Le Matin Dimanche Interview – Sika
Jérôme Stern, our CEO, in an interview by Le Matin Dimanche on Sika. Le Matin Dimanche Interview – Sika Posted
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