– Now, as everyone says, it is very, very high uncertainty, says investor Celina Midelfart. She was one of several top investors gathered in Norges Bank for the Oil Fund’s annual investor conference. At the same time, it is 100 days since Donald Trump was appointed US president. During this period, he has announced customs walls against all trading partners with whom the United States has a negative trade balance. – Looking for opportunities American stock exchanges plunged at the same time as the dollar and US government securities fell in value. Confidence in the US economy has simply gone on a bang. But Midelfart has not taken money out of the United States: – I am sitting a little quiet for now, and looking for opportunities. But I haven’t taken big steps so far. – Do you invest more in Europe? – I really stick to the sectors where I feel that I have some expertise, more than markets or geographies. Investors all over the world are uncertain about what is the smartest strategy in the stock market turmoil, and Midelfart raises a dilemma: – And then the question becomes whether to sit still, or try to play that volatility, she continues. – No joke to undergo the United States, neither Magnus Reitan, CEO of the investment company Reitan Kapital, is actively steering away from the United States. He says that heavy investments in Norway mean that they currently have the overweight of investments in Europe, but still says: – There is no point in underwenting the United States as a market. Although a company is listed in the United States, it is often global, Reitan points out. – If you invest in the world index, you get a pretty good reflection of the entire world economy, and are exposed to the entire world economy. Magnus Reitan believes that one should not avoid investing in American listed companies. Photo: Celina Therese Ekholt / news Reitan says the future may be more uncertain than ever. He points out that previous stock market drops were due to external shocks, such as pandemic. – What is a little different now is that it is a wild policy from the US authorities that makes the stock exchanges around the world fall. Here, there is simply one man in the United States who makes very unfavorable decisions. Reitan says he recommends a well -diversified portfolio that manages in all kinds of weather. – When the crisis comes, it is wise to sit still. Do not make hasty decisions in the midst of a crisis. Sit quietly in the boat – what you see now is that despite the fall, the United States is still very high priced. And that on an earnings that may be on the way down. This is stated by investment director at Skagen Alexandra Morris. Even before the trade war, she warned that what she considered an American stock exchange bubble could crack. Morris points out that growth in the US stock market, which has been driven by the seven major text in the United States, often called “Magnificent Seven”, is now on the way down. She also points out that the dollar has fallen sharply lately. This means that our investments in Norwegian kroner in the US also fall, she says. – Where do you want to put money now? – I will always apply for a fund that is widely laid down and which is long -term. Morris says she looks at what the big movements of the trends in the market are. – For example, hopefully there will be an end to the war in Ukraine, and what it can give us of exciting investment opportunities. – How do you look at the future? – I think it’s a challenging time. But I think it’s important to wear long glasses. We have been through many difficult periods before. So I definitely believe that we will come through this too. – To sit still in the boat, I would recommend, she adds. Netfonds manager Mari Øyen and Alexandra Morris in Skagen. Photo: Celina Therese Ekholt / news Person customers move from the United States Although several top investors do not move money out of the United States, the investment bank Nordnet has noticed a change with its person customers. – Since the end of February, we have seen that more and more customers are changing something about, and are taking some more funds into Europe. And maybe more out of the United States. That’s what Nordnet chief Mari Rindal Øyen says. She says the trend started in late February, and has been strongest through March. – Now we are at a more equilibrium point where perhaps many of the customers who wanted to make changes to the portfolio have done so. And others may start to see that it has become cheaper on the US stock exchanges, and is entering the US market again. She believes there will be more capital flowing to Europe in the future than it has been for the last five years. The Oslo Stock Exchange has been one of the stock exchanges that has done well so far this year, Øyen points out. – We see that investors have been more interested in entering the more domestic stock exchanges in the last six months. Among person customers, interest in the Oslo Stock Exchange has increased slightly because of the uncertainty we have seen. Investing in Norwegian companies. -I have not invested either in the US or other non-Norwegian countries in a long time. Aksel Lund Svindal invests in the day only in Norwegian companies. Photo: Celina Therese Ekholt / news Svindal says that if he is to invest in something, he will know some of the important people or environments on board. – In general, I think that when there is uncertainty, it feels safer to invest further geographically. Svindal says he thinks it feels more unsafe to invest in companies far away now than if there were no ripples on the sea. – And now it’s a storm. Published 29.04.2025, at. 16.27 Updated 29.04.2025, at. 16.28
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