Welcome to the weekly Investment Competition update! This week inflation figures have continued to rise fuelling the debate about if this inflation will be long lasting or not. Despite these fears the S&P 500 increased by 0.19% while the NASDAQ gained 1.35% this week both reaching new record highs. The European indexes have also performed well while the AEX gained 1.35% and the CAC 40 gained 1.48%.
While cryptocurrencies have faced major setbacks in the past month some good news has arrived this week. El Salvador is the first country that will be accepting Bitcoin as a legal tender. Surprisingly enough this news did not have major effects on the cryptomarkets, which have continued to slump over the past few weeks.
This week's investment competition has seen CFQ losing 9 spots as they lost nearly 10% of return. B.R.O.O.D. Beleggers has won the most spots as they finished the week at the 7th place by gaining 1.16%. As the competition is slowly nearing this years end, the top three has been concealed in order to keep the winners secret until the announcement of the winners. Only time will tell now how the battle of the giants at the top will end!
For the alternative investment competition no movement has been noticed. Das Kapital still tops the table with an M2 of 13.14%.The table is closed by iValue investments that achieved a negative M2 of 13.13%. New Rotterdam Investments gained the most this week, recovering some of their losses by gaining 4% in terms of absolute return.