A fourth-quarter pretax loss of to CHF 1.5 billion, is substantially worse than the 342 million franc loss in the third quarter. The deal -- to be finalised during the first half of 2023 -- is part of measures to restructure the beleaguered lender's investment banking branch following a series of What lies in store for the world?". This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. CREDIT Suisse Group bankers are trying to entice rich clients with higher-yield notes and bonus deposit rates in a bid to quickly recoup as much as possible of the almost US$90 billion recently pulled from the bank. Women now account for an estimated 40% of global wealth overall and their share of wealth has grown considerably throughout the 20th century. The report finds that while the global economy and financial markets have emerged from an almost decade-long recession, liberal democracy is struggling. Accompanying databook to the Global wealth report 2015. See here for a complete list of exchanges and delays. Then theres the Suisse private banker who allegedly defrauded the former prime minister of Georgia to the tune of $800 million. "Our capital position at the moment is strong." Credit Suisse seeks to attract about 4 billion francs in new capital with the move. Rising life expectancies and falling fertility rates have led to aging populations becoming a reality in many countries across the globe. CS & DB are in serious trouble. You are just one step away from creating your watchlist! ESG News December 1, 2022. Credit Suisse published a Climate Action Plan (CAP), outlining the ambition and approach of Credit Suisse Asset Management and Credit Suisse Wealth Management divisions in support of the transition to a net zero society. According to reports, its employee morale has been gloomy and the bank has not yet renewed the contracts of certain contractors. Credit Suisse and a former employee have been found guilty by Switzerland's Federal Criminal Court of failing to prevent money-laundering. Yet to make an initial target disclosure. Copyright 2022 HT Digital Streams Ltd All Right Reserved. Total global wealth grew by 7.4% and wealth per adult reached another record high of USD 79,952. Download them for free. We are also getting incoming calls from our top investors with messages of support.". In this special report, we take a closer look at the Swiss data and assess the drivers behind Switzerland's impressive performance. You dont necessarily understand the market and which companies or assets are the best to go into. In this report, the Credit Suisse Research Institute analyses Switzerland's progress in relation to representation of women on different levels of corporate leadership. This will alert our moderators to take action. The teams are actively engaging with our top clients and counterparties this weekend," an executive told the newspaper. A broader slowdown in activity in its wealth-management division and investment bank contributed to the warning of a pretax loss of around $1.6 billion for the quarter, it said. It represents an "important step towards a managed exit from the Securitized Products business, which is expected to significantly de-risk the investment bank and release capital to invest in Credit Suisse's core business," Credit Suisse said. Against the backdrop of the first interest rate increase by the Federal Reserve in almost a decade, the Credit Suisse Research Institute's Global Investment Returns Yearbook examines similar episodes since 1900 and derives potential implications for future economic and financial market developments. Credit Suisse and a former employee have been found guilty by Switzerland's Federal Criminal Court of failing to prevent money-laundering. On the other end of the spectrum are Russia, Turkey and Mexico. At the end of 2021, Credit Suisse 5 year credit default swaps were trading at just over 50 basis points. Theyve been outed by investigative journalists for assisting banking clients who have been involved in drug trafficking, torture, corruption and money laundering. The bank said the move represented an "important step towards a managed exit from the Securitized Products business, which is expected to significantly de-risk the investment bank and release capital to invest in Credit Suisse's core business.". This unique contribution analyzes executive teams of over 3,000 companies comprising 30,000 executive positions from 56 different countries. In all, more than $100 billion has left the bank since June, according to Credit Suisses filings. WebCredit Suisse Global Investment Returns Yearbook 2022 Summary Edition This is an extract of the Yearbook 2022, produced in collaboration with the CSRI by Elroy Dimson, Paul Marsh and Mike Staunton. Login to Read More Join Now. This report by the Credit Suisse Research Institute explores several important aspects of the connection between sound governance and improved business performance. The Credit Suisse Research Institute's Global wealth report is the most comprehensive source of information on global household wealth. Our fifth Emerging Consumer Survey reflects a challenging environment for consumer activity. The report explores global variations in female wealth accumulation, along with differences in portfolio composition, risk aversion and the impact on female Millennials. The prevailing weakness in currencies and commodity prices provides for other sources of concern. Since 2012, the Credit Suisse Research Institute has been researching gender diversity within the governance and executive leadership teams. The full version is available in hard copy only upon request (details are available in the online version). It lays out the passage from globalization to multipolarity, i.e. December 8, 2022 4. It warns of a loss in its wealth management business. This is an extract of the Yearbook 2022, produced in collaboration with the CSRI by Elroy Dimson, Paul Marsh and Mike Staunton. This year's summary edition of the GIRY 2021, produced in collaboration with the Credit Suisse Research Institute by Elroy Dimson, Paul Marsh and Mike Staunton, focuses on emerging markets as a special topic and offers an extended dataset by adding nine new emerging markets. China remains at the forefront of growth in the emerging world and remains ranked in the top three of our survey, with consumers displaying a shift toward discretionary categories of spending. (Ennio Leanza/Keystone via AP / AP Images), CREDIT SUISSE TO BUY BACK $3B IN DEBT, SELL HOTEL SAVOY. In the developed world, both equity and bond markets are at record highs. *The location of origin is defined in your browser settings and may not be identical with your citizenship and/or your domicile. The typical long term perspective to current events the study brings is particularly timely at present as investors question whether the 30 year bull market in bonds is now turning. "I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank." Credit Suisse Group AG warned it would lose around $1.6 billion in the fourth quarter after customers pulled their investments and deposits over concerns about the banks financial health. Next week can spell disaster.BEWARE. A Credit Suisse Group AG bank branch in Bern, Switzerland, on Sunday, Nov. 27, 2022. Credit Suisse clients pulled as much as 84 billion Swiss francs ($88.3 billion) of their money from the bank during the first few weeks of the quarter, underlining ongoing concerns over the banks restructuring efforts after years of scandals. The report "The Swiss Family Business Model" published by the Credit Suisse Research Institute, reviews the financial performance of publically listed family-owned companies and reveals that the Swiss family-owned businesses have outperformed their local non-family-owned peers by 9% per year since 2006. This content is for members only. Wealth per adult grew by 3.2%, raising global mean wealth to a record high of $63,100 per adult. The US contributed most to global wealth adding $6.3 trillion and taking its total to $98 trillion. Experts believe that even though these levels are far from distressed and are part of a broad market selloff, they signify its deteriorating perceptions of credit-worthiness. These financial instruments are an agreement that see the seller of a CDS compensate the buyer if the underlying company goes bankrupt. Market data provided byFactset. Credit Suisse is also currently under investigation for tax fraud. Looks like you have exceeded the limit to bookmark the image. In this report the CSRI draws upon the conclusions from the accompanying analysis in "The CS Family 1000". INITIAL End Date:12/7/2022 Firm Name:Credit Suisse Securities (USA) LLC Form:Daily Seg - FOCUS II Submit Date:12/8/2022 Daily Segregation - Swaps Statement STATEMENT OF CLEARED SWAPS CUSTOMER SEGREGATION Water scarcity, and the societal risks it poses, is one of the primary challenges faced by the world today. It provides timely insights into consumers' mood and likely long-lasting changes in consumption patterns. In this latest MAMChat, Matterhorn Asset Management principals, Egon von Greyerz and Matthew Piepenburg, discuss a range of current yet undeniably important as well as converging themes.This, of course, includes the significance of the most recent Lehman moment at Credit Suisse in the backdrop of falling markets, imploding currencies, steady For many, Credit Suisse's market turmoil is a dark reminder of the Lehman crisis, which triggered a global meltdown in 2008. Credit Suisse shares briefly sank to an all-time low on Monday while credit default swaps hit a record high. Credit Suisse's capital increase will be used to fund its overhaul, an attempt to recover from the biggest crisis in the bank's 166-year history. Explained whether continuous fall of No. The price of oil has collapsed and the Swiss franc has jettisoned its link with the euro. You have viewed out of Global Business and Financial News, Stock Quotes, and Market Data and Analysis. While touting the banks capital levels and liquidity, he acknowledged that the firm was facing a critical moment" as it worked towards its latest overhaul plans. Got a confidential news tip? Credit Suisse is also currently under investigation for tax fraud. A restructure of this magnitude isnt easy or cheap. This Weeks Job Report Presents Mixed News For Investors, 14 Essential Personal Finance Checks To Do Before The End Of The Year, The Emerging Asset Class Of 'Super' Carbon Credits, Understanding Health Savings Accounts And Their Advantages, Q.ai - Powering a Personal Wealth Movement. Credit Suisse headquarters at Paradeplatz in Zrich. The banks overhaul is meant to reduce its reliance on risky Wall Street trades and double down on the steady fee-collecting business of working with the worlds ultra wealthy. (Spencer Platt/Getty Images / Getty Images). Sign up for free newsletters and get more CNBC delivered to your inbox. Ironically, the memo was sent to reassure employees that the company was in a stable financial position with sufficient liquidity and capital to see through the current volatility. The stock has continued to slide for months, and unless CEO Ulrich Koerne can pull a major rabbit out of the hat when he releases his full restructuring plan at the end of this month, it could continue for some time. A new study reveals the extent of the demographic challenge for 10 Asian economies, considering the implications of aging for Asia and the global economy. Accompanying databook to the Global wealth report 2018. Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group to Apollo Global Management. In case you cant find any email from our side, please check the spam folder. Lehman Brothers CFO Sept 8, 2008. 2 bank by assets said outflows were around 6% of its total $1.47 trillion assets, or around $88.3 billion, between Sept. 30 and Nov. 11. Credit Suisse shareholders rejected a proposal from the bank's board to discharge management from other liabilities for 2020, highlighting shareholder anger of the bank's costly missteps. Existing investors in Credit Suisse have been having a bad time for a while now. Credit Suisse Group AG, is organised as a joint On 7 February 2022, it was announced that Credit Suisse would be tried in the first criminal trial of a major bank in Switzerland. Read about important economic changes in the European as well as international markets. Tata-owned Air India is close to signing a deal with Boeing to acquire up to 150 737 Max jets, said people with knowledge of the matter. Over the weekend, the bank's CEO, Ulrich Koerner had sought to calm employees and the markets after the stock touched a record low and credit-default swaps climbed. Legal Statement. It highlights again the challenges that face investors looking to pick individual stocks. While some are calling this a potential Lehman Brothers moment, so far Credit Suisse looks to be safe from that type of shock collapse. Download the Mint app and read premium stories. The new share offering will see the Saudi National Bank take a 9.9% stake in Credit Suisse, making it the bank's largest shareholder. Thats why we created the Global Trends Kit to do the hard work for you. items. The bank said it is still targeting a capital ratio of at least 13% between 2023 and 2025 as it restructures. The US, China, and Europe contributed the most towards global wealth growth with USD 3.8 trillion, USD 1.9 trillion and USD 1.1trillion respectively. BK Asset Management. To test the findings and conclusions, the authors of the report performed comprehensive interviews with over 100 family-owned companies across ten countries. The bank has just lost one of its senior dealmakers, Jens Welter, who left to join Citigroup after 27 years with the establishment. WebData from the Federal Reserve shows that more than two-thirds of wealthy Americans under age 45 with at least $500,000 in net worth Credit Suisse. Credit Suisse and Deutsche Bank have assets under management of $2800 billion dollars. The SPG is a substantial player in the public U.S. securitization market, particularly in the area of residential mortgage-backed securities. But shareholders and analysts were disturbed by the bank's sobering assessment of the scale of its problems, as well as the pace at which rich clients pulled out savings and investments. K&L Gates Strengthens Corporate and Asset Management and Investment Funds Teams. This year's edition also provides fresh analysis of factor investing strategies. In view of the changing landscape, the Credit Suisse Research Institute (CSRI) organized a forum bringing together a dozen renowned specialists and members of Credit Suisse's top management to discuss these defining and current issues. Die Kundenberater der Credit Suisse stehen offenbar unter hohem Druck, Gelder von den vermgenden Kunden hereinzuholen. Pro Investing by Aditya Birla Sun Life Mutual Fund. The report also presents new themes and analysis to complement prior work looking at family owned businesses, a discussion around the macro economic impact of increased female labor participation and fertility rates as well as the gender pay gap. 2 bank by assets said outflows were around 6% of its total $1.47 trillion assets, or around $88.3 billion, between Sept. 30 and Nov. 11. Asias major economies are aging rapidly. Credit Suisse received shareholder approval Wednesday on a plan to raise more than $4 billion in new stock. Writing by John Revill and John O'Donnell; Editing by Ana Nicolaci da Costa, Jane Merriman and Tomasz Janowski, German economy ministry calls for joint EU response to U.S. inflation act, Blackstone may slow the launch of private equity fund after investor withdrawals, Financial Times reports, Soaring current account surplus fails to cover up cracks in Russian economy, Exclusive: Biden administration drafting executive order to simplify space rules, UniCredit says repaid 29 billion euros of ECB loans, Mexico president says two bidders remaining for Citi's local retail bank, UniCredit says ECB capital requirement could increase 'minimally', BNP Paribas hands its London bankers standardised job titles to ensure transparency, Ex-JPMorgan, Credit Suisse trader convicted at U.S. spoofing trial, See here for a complete list of exchanges and delays, Clients have withdrawn billions since October. Credit Suisse shares briefly sank to an all-time low on Monday while credit default swaps hit a record high. Today, its market value is only $10.4 billion and the shares have fallen 56.2%. Damit soll die Flut der sinkenden Assets under Management gedreht werden. These includethe planned 1.5 billion Swiss franc ($1.6 billion) investment from the Saudi National Bank in exchange for a 9.9% shareholding, part of a 4 billion Swiss franc capital raise. AGF Management Limited reported total assets under management (AUM) and fee-earning assets 1 of $41.8 billion as at November 30, 2022. It examines two demographics that deserve particular attention in relation to extreme poverty and its elimination: First, investing in women's health and education, and second, identifying effective policies to break the link between poverty and disability. Credit Suisse headquarters at Paradeplatz in Zrich. However, there are clear winners and losers. One innovation in this report is to measure the way in which small countries lead larger ones in terms of economic performance. Credit Suisse currently has a capital ratio of 13.1%, which is higher than the 9.6% that theyre legally required to hold. Further, they also outperformed family-owned peers in Europe and globally. All quotes delayed a minimum of 15 minutes. Lehman Brothers only had $600 billion and it causes 2008 world financial crisis. Credit Suisse said there had been an outflow of 6% of assets at the end of the third quarter. 2015 has begun with a series of apparent contradictions and dramatic reversals. Emerging Asian economies are changing rapidly with the region's share of global economic output set to reach 55% by 2050. The figure represented 6% of the banks total assets under management (AUM). In this special edition of Credit Suisse Research Institute's Emerging Consumer Survey 2017, we focus on the consumer in China and the results of the circa 2,500 respondents that we surveyed. The publication highlights the key economic, social, technological and political changes taking place in the region. The power of GDP as an indicator of economic health and performance is based on the assumption that it adequately reflects the state of the respective society. The "Rethinking retirement" report, published by the Credit Suisse Research Institute, takes an in-depth look at the most important pension and retirement-related questions and trends. At the end of October, Credit Suisse unveiled a plan to cut thousands of jobs and shift its focus away from investment banking and towards less turbulent wealth management. $600 Billion: What Lehman Brothers held in assets when they crashed and took the economy with them. Published by Statista Research Department , May 23, 2022. 2 bank by assets said outflows were around 6% of its total $1.47 trillion assets, or around $88.3 billion, between Sept. 30 and Nov. 11. This year's edition focuses on diversification as a special topic and offers an extended dataset by adding three new markets. There is a focus also on China as an example, providing insight into a country facing an aging population and a rapidly growing health service industry. Credit Suisse expects the units remaining $20 billion of assets will generate earnings which will allow it to fund a planned exit from the business over time. Credit Suisse has been involved in a large number of scandals in recent years, and theyve been making efforts to restructure as a result. Concerns about the bank reached a fever pitch in October when commentators on social-media platforms Twitter and Reddit called into question the banks health. During the twelve months to mid-2018, aggregate global wealth rose by $14.0 trillion (4.6%) to a combined total of $317 trillion, outpacing population growth. Switzerland's second-largest bank said that a general slowdown had hits its investment bank, adding to pressure on the group, which was set for a heavy loss. The banks capital needs depend on selling and exiting some businesses, and on how its continuing businesses perform. Credit Suisse stuck in spotlight ahead of strategy shift Since its foundation in 1856, Credit Suisse has played a central role in the history and development of Switzerland and become one of the largest banks in Europe. Ran out of words? 2 Swiss bank and one of the largest global investment banks is on the verge of collapse. The full version is available on CS PLUS for clients of the bank and in hard copy upon request. Credit Suisse seeks to attract about 4 billion francs in new capital with the move. Experience Your Economic Times Newspaper, The Digital Way! Theyve been looking to scale back their investment banking arm and pivot further towards wealth management, in a move that puts up to 5,000 jobs at risk. 2 Swiss bank and one of the largest global investment banks, Credit Suisse can trigger a global financial turmoil similar to the Lehman moment. Credit Suisse Group AG, is organised as a joint On 7 February 2022, it was announced that Credit Suisse would be tried in the first criminal trial of a major bank in Switzerland. Shares dropped 2.6% in early trading, falling below the record closing low hit in late September The Zurich-based bank said in a Die Credit Suisse (CS) hat in der Vermgensverwaltung eine Offensive gestartet, um die hohen Geldrckzge von vermgenden Kunden Credit Suisse has struck a deal to sell a large part of its securitised products to US investment firm Apollo Global Management, the Swiss bank under overhaul said Tuesday. It provides an assessment of the challenges and some of the potential solutions associated with the need to make the global food supply system more sustainable. Indias electric mobility ambitions could get a boost in the upcoming budget, with the government examining incentives to encourage local manufacture of electric vehicles (EVs) and energy storage systems (ESS). Credit Suisse is a leading global wealth manager with strong investment banking capabilities. Under Scrutiny. Credit Suisse said in October it intends to reduce its cost base by around 2.5 billion Swiss francs ($2.67 billion) to about 14.5 billion in 2025. Chairman Axel Lehmann pointed to shareholder approval on Wednesday of the bank's planned 4 billion franc capital raising from investors, as a "further positive step in building the new Credit Suisse". The bank was hit hard when a client, family office Archegos Capital Management, defaulted in March 2021, triggering a loss of more than $5 billion. Credit Suisse is a leading global wealth manager with strong investment banking capabilities. ICICI Prudential India Opportunities Fund - Grow.. ICICI Prudential Large & Mid Cap Fund-Growth, Credit Suisse warns of Q4 loss on 'massive' outflows. Climate change and the energy transition are key topics with far-reaching microeconomic, macro and political implications, as governments and companies around the world rethink mobility, shipping, materials and packaging, urbanism and energy consumption and how to ensure more responsible consumer habits. The cost of insuring the debt of Credit Suisse against default rose and its bonds came under pressure after the announcement, which stripped as much as 6% off the value of its shares, which have lost almost 60% so far this year. "Our capital position at the moment is strong." The report draws upon the global datasets of the annual Global Investment Returns Yearbook, one of CSRI's flagship publications. This comes amid rumours that No. Switzerlands No. With all that said, theres plenty of reasons to believe that the doom is overblown. Sukhvinder Singh Sukhu takes oath as new Himachal CM, h HULs bet on health & wellness will take time to show r PM Modi inaugurates Goa's Mopa Airport: Here are things Sunaks post-Brexit Britain is staring at a worst-case India now third largest aviation market in the world: P Sulli deals app case: Delhi L-G approves prosecution of PM Modi inaugurates Goa's Mopa Airport: Here a Sukhvinder Singh Sukhu takes oath as new Himac HULs bet on health & wellness will take time Sunaks post-Brexit Britain is staring at a wo Chikungunya: Researchers find potential antivi The space of digital has completely exploded. This year's edition focuses on diversification as a special topic and offers an extended dataset by adding three new markets. The 2019 edition's findings show an increase of gender diversity in the boardroom but not in executive positions. Poor water quality exacerbates the issue, with 80% of waste water globally being returned to the environment untreated, while 4.5 billion people still lack access to safely managed sanitation services. Some analysts are concerned the new capital raising may not be enough if Credit Suisses revamp doesnt go as planned. So what is actually going on here and is Credit Suisse going bust a realistic possibility? Your Reason has been Reported to the admin. In the 2021 edition, we review and update our universe of companies and analyze the progress made to improve the profile of gender diversity. The capital ratio is basically a measure of how much capital the bank has on hand, and therefore how much security it has against the risk of a default. Wednesday, 7 December 2022 09:59 Credit Suisse Luring Clients With High-Yield Debt Credit Suisse Swiss Head Seeks to Calm Outflow Concerns Credit Suisse is Bleeding Managed Assets PDF Credit Suisse is seeking to lure clients who in recent months have pulled billions out of the bank, back with attractive interest rates. Credit Suisses stock price has been sliding for some time, but its the circulation of a staff memo from CEO Ulrich Koerne late last week that has really fired up the rumor mill. While multiple factors play a role when it comes to company performance, one of the key factor appears to be that Family-owned businesses have a longer term and conservative focus. The "Healthcare transformation" report, published by the Credit Suisse Research Institute, looks at the improvements Artificial Intelligence and Big Data could bring into people's lives but also examines potential policy and regulatory risks in the more developed economies. Accompanying databook to the Global wealth report 2019. The shares are down nearly 60% this year. FAQ - New Privacy Policy, Former FDIC Chair Sheila Bair discusses Credit Suisse's issues as the U.S. faces economic challenges and how the Fed will keep financial systems 'stable.'. It is in the process of selling a large group within its investment bank to free up capital, as part of its recovery effort. He further went on to add, stocks of both banks have suffered an absolute rout so far, with a 40% crash in one year. While they have been reduced substantially from the elevated levels of the first two weeks of October 2022, they have yet to reverse, the bank said. The higher the chance of that happening, the higher the price a seller is going to want for a CDS because it means that its more likely that theyll need to pay out. Corporate structure. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. All rights reserved. It provides new data to support the growing investor interest in governance-related rules and practices and introduces innovative ways to assess corporate performance. What has so far primarily been an issue in developed countries is also becoming a concern for the developing world. December 8, 2022 4. This year's report also provides a deep dive into wealth in the 21st century. Contributions include current analysis and opinion pieces from former UK Prime Minister Sir John Major, former US Under Secretary of State Nicholas Burns, Professor Francis Fukuyama and Professor Michael M. Ting, as well as the CSRI's Michael O'Sullivan. Their credit default swaps, which reflect the chance of a company defaulting on their debt, have skyrocketed over the weekend. Wealth growth also outpaced population growth, so that global mean wealth per adult grew by 4.9% and reached a new record high of USD 56,540 per adult. Credit Suisse shares were down 1.3% as of 10:47 a.m. in Zurich on Wednesday, and have lost about 65% this year. This set Twitter and Reddit alight, with commenters drawing parallels to a similar memo that was sent out by Lehman Brothers right before their collapse. While the century began with a "golden age" of robust and inclusive wealth creation, wealth growth collapsed during the financial crisis and never recovered to the level experienced earlier. At the end of October, Credit Suisse unveiled a plan to cut thousands of jobs and shift its focus away from investment banking and towards less turbulent wealth management. Swiss banking giant Credit Suisse is struggling to restructure in the wake of scandals and accusations which include money laundering for the Bulgarian Mafia. When you deposit $100, well add an additional $100 to your account. It said this trend in the wealth management division, catering to rich clients, has since improved, but had yet to reverse. Download The Economic Times News App to get Daily Market Updates & Live Business News. The bank said its average daily LCR for the fourth quarter was 140%. This is a BETA experience. Credit Suisse has struck a deal to sell a large part of its securitised products to US investment firm Apollo Global Management, the Swiss bank under overhaul said Tuesday. This year's edition focuses on diversification as a special topic and offers an extended dataset by adding three new markets. This year's Global wealth report 2020 examines the impact of the outbreak on wealth and the distribution of wealth. Uncertain markets have meant clients arent transacting as much across wealth managers. The Credit Suisse Research Institute's "Getting over Globalization" report examines the end of globalization as we know it. The report also explores how investor interest in social impact has developed over time and shows that new forms of social entrepreneurship and social finance can make a significant difference to the challenge of extreme poverty. Credit Suisse CEO Sept 30, 2022. The fast pace of withdrawals meant the banks liquidity fell below some local-level requirements, the bank said. WebNews Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The tenth edition of the Credit Suisse Research Institute's Emerging Consumer Survey is set against the backdrop of the era defining the COVID-19 global pandemic and the unique economic, financial and public health challenges it has brought. We also look at how collectibles can be viewed by investors as a way of diversifying their assets and stores of value. 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