Totalreturn blog

Before the FIFA World Cup kicked off, Spain and England were widely regarded as the tournament favourites. As the competition has progressed, however, France has emerged as the frontrunner. A major reason for this shift has been the outstanding form of Kylian Mbappé, who is locked in a neck-and-neck race for the Golden Boot with […]

Péter Kadocsa, CEO of VIG Asset Management, evaluated the outlook for the Hungarian investment market and regional growth opportunities in a recent interview with Portfolio.hu. The declining yields on government bonds could bring a new dynamic to the sector, further highlighting the role of regular savings and investment funds in the future. The interview also […]

In the latest episode of Moneyvlog, György Pálfi, Head of Equities at VIG Asset Management, analyzed the current, highly complex macroeconomic environment and the opportunities ahead for the domestic market. The domestic rate-cutting cycle and a potential future Eurozone accession could present a completely new situation for investors. As the previously accustomed high government bond […]

When Nicholas Carlini, a renowned researcher at the artificial intelligence development company Anthropic AI, took the stage on March 25 at the “[un]prompted 2026” cybersecurity conference, he likely suspected that his presentation would generate significant buzz. He explained that Anthropic’s latest large language model, Fable 5, which offers a next-generation cybersecurity solution, outperforms even the […]

Gábor Czachesz, Head of Multi-Asset and Quantitative Investment Strategies at VIG Asset Management, recently gave an interview to Forbes, where he highlighted the most common mistakes made by novice retail investors and shared practical advice on how to start investing. Gábor pointed out that less experienced investors often fall into the trap of chasing past […]

Earlier this January, we published our hypothetical equity index based on FIFA World Cup winning probabilities: the VIG Football World Cup Equity Portfolio Index. Its performance has been particularly strong, theoretically outperforming both the European EURO STOXX 50 Index and the U.S. S&P 500 Index. However, in June, VIG Asset Management did not want to […]

VIG Asset Management has prepared a new equity index for the FIFA World Cup. We created the hypothetical VIG Football World Cup Equity Portfolio Index by combining the stock market indices of the countries considered most likely to win the tournament. How did the process begin? You can find out in our previous articles. We […]

In their latest article published on Telex.hu, Zsófia Béri, Portfolio Manager at VIG Asset Management, and Bálint Jagadics, Analyst, highlight the importance of the conversion exchange rate linked to the introduction of the euro. At first glance, the debate over adopting the euro may seem distant and technical: Maastricht criteria, central bank flexibility, fiscal deficits. […]

Lately, there has been no shortage of articles and posts claiming that the euphoric gains of the dotcom era were driven exclusively by unprofitable companies. That is simply not true. The “MAG7” of that period consisted of Cisco, Intel, Oracle, Microsoft, Dell, Sun Microsystems, WorldCom, and Ericsson. Every single one of these stocks fell by […]

The FIFA World Cup has not even started yet, but bookmakers’ decisions have already led to continuously changing odds, reshaping the field. Based on these odds, we can derive implied probabilities. This logic underpins the hypothetical VIG Football World Cup Equity Portfolio Index. The index is a conceptual model portfolio that weights leading equity indices […]

Global financial stability was built for decades on the 1974 Kissinger agreement. Following the 1973 Yom Kippur War, Kissinger personally mediated between Arab countries and Israel, laying the foundation for the region’s subsequent stability. As a result, Saudi Arabia priced oil in U.S. dollars and reinvested excess profits into U.S. government securities – primarily Treasuries. […]

Since the outbreak of the Iran war, the price of gold has declined by around 12% and currently stands at approximately $4,700 – well below its peak of $5,600. This is particularly surprising given that the market environment, at first glance, would seem to support a rise in gold prices. Geopolitical tensions, rising oil prices, […]

What do betting odds tell us? Sports enthusiasts know that if you want to identify the favorites in a tournament, all you need to do is look at bookmakers’ odds. These figures are not just payout ratios – they also represent implied probabilities. Since they are formed by a broad market of actively engaged participants, […]

In Hungary, a university degree has long meant more than just a ticket to the labor market: it also represents status and security. In many families, it signals not only that “you have a qualification,” but also that it will be easier to change jobs, that you will have greater mobility, and that you will […]