De Creuse: “Trump created a situation in which for the second time since World War II – even though the economy is at the peak of growth and full employment – the US has a large budget deficit and the debt to GDP ratio is about 106% The Vietnam War, of course, is somewhat worrisome and raises the level of risk. “
Do you think there is any significance to the bond ratings that the rating agencies give to countries today?
De Croza: “Yes, especially in extreme cases, in a crisis situation, there is significance, when margins are opened against the bonds of strong countries.”
De Croix, 52, who claims to be a “Christian Swiss”, read a book about Jerusalem at the age of 14, which described the War of Independence and the contribution of Pictet, one of the banks used by the Haganah to transfer funds raised in the United States to state- .
“When I finished my studies, I decided to study Hebrew, completed my bachelor’s degree in Orientalism at the University of Haifa, and studied Hebrew alone, and then completed my Masters in Business Administration and Accounting in France and a PhD in Switzerland.
I joined the pika in 1997, and after Netanyahu opened the foreign exchange market to capital flows in 1998, I established the Israeli branch of the bank, “he says. “After we grew up, we decided to open a local representation in the area of investment for affluent customers in 201.”
“In February 2000, we warned against the high-tech bubble” Pictet is a private bank, the third largest in Switzerland in terms of managed assets (about $ 500 billion). It employs some 4,500 people in 24 offices across 17 countries. “In February 2000, for example, about a month before the bursting of the hi-tech bubble, we published a review that warned about the situation, and we do not have a hidden agenda, we do not participate in issues. That sometimes we are also wrong, but we have no conflicts of interest, for example, we can not recommend certain securities because we want them to be removed from our balance sheet, “says De Croza.