Best bonds to invest in 2023

What are the secrets behind the best bonds to invest in 2023? We have a revival for bond investments. Investors are looking after bonds again. Bonds are back again.
This is an interview with Helge Müller, the Chief Investment Officer of Geneve Invest, a Swiss asset management company based in Geneva. He is an expert in investing in bonds. He makes the best portfolios with corporate bonds.
Based on a well-structured bond portfolio, he achieved excellent results between 8% and 12% for our clients.
He takes between 50 and 200 corporate bonds to ensure proper diversification. He is doing his homework with field research. He is visiting the companies issuing bonds. He intentionally is not relying on ratings given by rating agencies. He likes corporate bonds of companies without a rating at all.
He goes deep into the books of the companies issuing bonds. I know that his strategies are successful. I never lost a single client with Helge. That's the best evidence that he is taking his homework seriously. You will learn how to invest in bonds. The market must be monitored constantly. A very strong diversification is vital. Let's assume you have 50 corporate bonds. If one company goes bust, you lose 2% only.
Helge Müller geneveinvest.ch/
Swiss asset management company based in Geneva
Enzo Caputo
Swiss Banking Lawyer
Caputo & Partners
swiss-banking-lawyers.com
Time stamps
00:00 Introduction of Helge Müller, Swiss Bond Expert
01:18 Best bonds to invest in 2023
02:15 The game changer was the war in Ukraine
02:45 Now is the right moment to buy bonds
03:43 Earn money with interest rate and price upside
04:35 What are the secrets of the bond market?
05:49 What role should bonds play in a well-diversified portfolio?
07:59 What does yield to maturity mean?
08:47 What are the risks associated with high-yield bonds?
11:25 What is the difference between wine-drinking countries and beer-drinking countries?
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[@SwissBankingLawyersZurich]

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[@blyat7276]

Will you make a video about UBS acquiring Credit Suisse for a few cents and how that will affect the Swiss private banking world?

[@SwissBankingLawyersZurich]

Credit Suisse would be in a much better situation with private banking only. Since Brady Dougan was appointed CEO, Credit Suisse has started with risky investment banking activities. The rapacious American mentality destroyed Credit Suisse. I already did something on Credit Suisse before the take-over. Most probably I will do a new video on CS. Thank you for reminding me. Thanks for the input. I am very grateful receiving valuable ideas.

[@deztinykeyzz601]

Is there any bank available for sale in Swiss?

[@SwissBankingLawyersZurich]

There are few banks available in the market.

[@benoitchevalier2338]

Bonjour Mr Caputo, j'ai une question pour vous, puis je savoir si je pourrais ouvrir un compte à la BZK ? avec vos services, en étant domicilié dans le canton de Vaud. Merci pour votre réponse et merci pour vos vidéos

[@SwissBankingLawyersZurich]

Je vous prie de me telephoner 0041 44 212 44 04

[@Mack-the-Knight]

Given the extraordinary measures (AT1 bond wipeout for example) taken by the Swiss government and FINMA in forcing CS sale to UBS, has Switzerland‘s reputation as a banking powerhouse been irrevocably damaged?

[@SwissBankingLawyersZurich]

There was never at any time any capital requirement issue for Credit Suisse and therefore nothing that would trigger either the conversion into stocks (and even less the writedown of these bonds). There were presentations and confirmations from Credit Suisse, UBS, and the SNB confirming this up until the Friday before the weekend of the deal. FINMA backed its decision based on a change in law that took place post-announcement of the deal. As said below, the Swiss parliament still has to approve this change on April 12 and there could be some hope that it does not approve it . The ongoing case shows that class actions will be filed for sure. Assuming there was a trigger and capital adequacy of Credit Suisse was below 7% at a given point, and based on the current share price of UBS (and CS), one would expect that these AT1 bonds could have been converted into Credit Suisse common stock. The market value of the USD 17.6B nominal would be around USD 4.5B. That is roughly 25% of the face value of the bonds. Considering the coupons already received on these bonds (in general), the recovery rate would be around 50% (bad but better than nothing). These USD 4.5B would obviously be an additional amount that UBS would have to purchase in order to do the transaction. And it is obvious that it is UBS that forced FINMA to order the write-down of these AT1 bonds as a condition to do the deal. On March 15, the SNB published that CS meets all capital requirements and that the SNB provides liquidity to support CS. In other words, a write-down was extremely improbable after the SNB comment. Four days later, on March 19, FINMA ordered the write-down of all AT1 capital out of the blue. There were no capital adequacy issues (CS’s CET1 end 2022 was 14.1%) and there were no public capital support measures taken. There is no basis for FINMA action to order a write-down of AT1 capital based on existing law. On what basis was the FINMA decision made? The law prior to March 19, 2023, did not allow for a FINMA order to write down the bonds outside of a restructuring proceeding. Therefore, on March 19, the Swiss government adopted a law essentially opening the door for FINMA eventually order a write-down of AT1 capital. This law was adopted in an overnight decision and has not been approved in Swiss parliament yet. Against the issuer: on March 15 CS disclosed no issues. This could be seen as a lack of disclosure and miss-selling, especially if CS already knew that the deal with UBS would be enforced. Against the Swiss government: the key question is if the trigger for a write-down was appropriate. If not, the FINMA decision would potentially qualify as expropriation. Foreign investors could use the so-called bilateral investment treaty claims Switzerland has in place with many countries due to expropriation and the fair and equitable treatment of foreign investors. This must be assessed on a case-by-case basis. Victims that lost money will now try to form a group of investors, who are interested in a more detailed analysis of the situation and potential claims to protect the rights of AT1 investors. I will check where our victims can register to be part of this group.

[@Mack-the-Knight]

Thank you Mr. Caputo for the detailed breakdown and outlook of the current situation, which goes well beyond other major media accounts that I have read to date 🙌.

[@benoitchevalier2338]

ZKB banque cantonale de ZURICh

[@cryptokusama]

bruder, lass den doch mal ausreden

[@don_kandon6006]

Yes, with all due respect Mr.Caputo, you always do that. When person speaks, dont interupt him at all, dont say your "yeah, yeah" or "interesting" while person is talking, let alone starting to speak full sentences. Let people speak, once they finish, then you speak. It seems that usually you want to kind of show off that you understand things... you do, but not as good as the people you interviewing, please let them talk.

[@cryptokusama]

@@don_kandon6006 could not express it better

[@SwissBankingLawyersZurich]

@@don_kandon6006 Thank you very much for the advice. I did not realize it but the expert should speak without interruption. Thank you.

[@SwissBankingLawyersZurich]

Yes, I will let speak my guests in the future. Thank you for the remark.