Kering SA

LVMH Moet Hennessy - Louis Vuitton, Societe Europeenne

Moncler S.p.A.

Burberry Group plc

Brunello Cucinelli S.p.A.

Compagnie Financiere Richemont SA

Hermes International Societe en commandite par actions

Luxury can no longer be bought as a single investment basket - the war in the Middle East has returned it to the category of consumer discretionary, i.e. cyclical consumer sector. Dynamics are again determined not so much by the strength of brands as by tourist flows, currencies and consumer sentiment in the US and China. Alena Nikolaeva, an independent portfolio manager for global markets, wrote for Oninvest how to invest in luxury now that the sector is no longer unified and no longer gives a "quality premium" by default

Why you can't just "buy luxury" anymore: How to invest in luxury brand stocks after the war in the Middle East

Red Cat Holdings, Inc.

Perimeter Solutions, Inc.

Climb Global Solutions, Inc.

Guardian Pharmacy Services, Inc.

Astronics Corporation

By the end of this year, interest in small caps is picking up as investors confront an overheated tech sector and increasingly concentrated, outstripping growth by a handful of AI stocks. According to Alyona Nikolaeva, portfolio manager at asset manager Astero Falcon, the more attractive opportunities now lie in small caps, where fundamentals remain stable, and valuations within reason.

With AI valuations stretched, five small caps to look at into the year-end

Industria de Diseno Textil, S.A.

Banco Santander, S.A.

Ferrovial SE

Spain experienced one of Europe's deepest recessions during the pandemic and was long overshadowed by investment interest. But an impressive economic surge has propelled it to the top of the growth charts among the EU's largest economies, with the country consistently overtaking France and Germany between 2023 and 2025, beating forecasts for consumption, investment and the labor market. Goldman Sachs <a href="https://www.goldmansachs.com/insights/articles/how-spain-became-europes-fastest-growing-major-economy">calls</a> it the fastest-growing eurozone economy with a strong GDP, robust domestic demand and strong export potential.

Costa del Capital: How to capitalize on Spain's rapid economic growth

The meeting between Russian President Vladimir Putin and American leader Donald Trump in Alaska was the main event of August, but expectedly did not bring the main thing - a ceasefire agreement. Instead of signed documents, the market received impressive decorations: a red carpet, handshakes and smiles at the military base and promises to continue dialog. For some, this is Russia's return to the world stage; for others, it is a Trump-style theater of peacemaking. And for investors, it is an important reminder that inflated expectations quickly fizzle out, says <a href="https://asterofalcon.com/">Astero Falcon</a> portfolio manager <a href="https://asterofalcon.com/">Alyona</a> Nikolaeva.

Smile diplomacy and unfulfilled expectations: how the Anchorage summit will affect markets 

Strategy Inc

The current rally in cryptocurrencies is impressive - it may even go down in history as the moment when cryptocurrencies finally established themselves as a &nbsp;full-fledged investment class. Why this happened and how you can now make money on cryptocurrencies, wrote portfolio manager <a href="https://asterofalcon.com/">Astero Falcon</a> Alyona Nikolaeva.&nbsp;s portfolio manager;

Prices at peak, the biggest investors are in: how to make money from cryptocurrency now

Chevron Corporation

Exxon Mobil Corporation

BP p.l.c.

Shell plc

The U.S. joining the Israeli strikes on Iran is a sharp but so far controllable spike in geopolitical risk. The main question is whether there will be an Iranian response. According to Middle Eastern logic, it is inevitable - it is a matter of prestige and pressure from within, argues Astero Falcon portfolio manager Alyona Nikolaeva. What scenarios are possible, who will benefit from the escalation of the conflict and what to expect investors after the start of trading - in this material.

"A phase of nervous anticipation": three scenarios for Iran and who stands to gain from escalation

Alyona Nikolaeva

Writes about:

Articles: 6

The war broke the main investment case in the luxury segment: what to buy

With AI valuations stretched, five small caps to look at into the year-end

Costa del Capital: How to capitalize on Spain's rapid economic growth

Smile diplomacy and unfulfilled expectations: how the Anchorage summit will affect markets

Prices at peak, the biggest investors are in: how to make money from cryptocurrency now

"A phase of nervous anticipation": three scenarios for Iran and who stands to gain from escalation