Economy

Tariff crisis  Dagens börse
Expert puzzled by the rally: “There is an enormous appetite for risk”

That Wall Street is back to new record levels despite the recent tariff chaos and war fears is “a bit strange”. That is what Norwegian Nordea economist Robert Næss tells Dagens Næringsliv.

Despite high valuations and long-term interest rates, there does not seem to be much that can satisfy the appetite for risk, according to Næss, who believes that “many stocks are now completely crazy” and lists Tesla, companies that buy bitcoin and Nvidia.

– There is an enormous appetite for risk in the market[…] The stock market expects everything to go very well in the future, as if there are no threats at all, he says.

Domestically, the bank’s chief strategist Johan Larsson tells EFN that it would not be unexpected if the stock market has more to offer.

– I wouldn't be surprised if we go up to a level where the market gradually becomes more and more overbought, he says, adding that the stock market is now valued higher than the average of both five and ten years.

Middle East crisis  Today's stock market
Different opinions about the rally: "We live in a pre-war era"

The stock markets have risen this week and Wall Street is now close to new record levels. At the same time, economist Klas Eklund warns that the worst is probably not over, reports Ekot.

– We live in a pre-war era. If the market underestimates the long-term risk, you are investing too risky, which I think is what you are doing right now.

Alpcot manager Jonas Olavi instead believes that the stock market's reaction is reasonable. He points out that the overall picture is going in the right direction with lower interest rates and inflation that can boost the economy and the profits of listed companies.

– It is rational. The stock market is the best leading indicator and it is pointing upwards. It is on well-motivated grounds. If the basic conditions do not change, the stock market should not react negatively, he says.

The world's richest
Investment guru gives away shares for

Investment guru Warren Buffett is donating Berkshire shares worth 6 billion dollars, equivalent to 57 billion kronor, to five different charitable organizations, Bloomberg reports.

It is the largest donation since Buffett began donating shares to charity, according to Reuters.

Over 9 million shares are being donated to Bill and Melinda Gates' charitable foundation, the Gates Foundation. Another nearly 3 million shares are being donated to his children's foundations, the Sherwood Foundation, the Howard Buffett Foundation and the Novo Foundation, as well as to the Susan Thompson Buffett Foundation.

Warren Buffett, now 94, promised in 2010 to gradually donate his fortune to charitable causes. Four years earlier, he had begun making large donations to the Gates Foundation and his children's foundations.

Data: VAT fraudsters back in new wave against Sweden

A second wave of massive VAT fraud against Sweden may have begun and this time the masterminds may be in the country, writes DI.

Just like last time, the criminal schemes are said to be based on abuse of the EU's VAT exemption rules for imports.

Jerker Asplund at the EU's joint prosecution authority Eppo confirms that the phenomenon continues and says that the authority is currently working on three major cases where crimes are suspected of having been directed against Sweden.

- Without revealing too much, I can say that we see more radical approaches than the perpetrators simply changing products in their schemes, he tells DI.