CB Fonder visits DiTV

On Thursday morning, our portfolio manager, partner, and CEO Alexander Jansson appeared on DiTV’s Börsmorgon to discuss current market valuations and how the market might develop following Nvidia’s much-talked-about earnings report the night before. In the studio, he joined host Fredrik Lennander and Dagens Industri’s market analyst Ulf Petersson, and the conversation revolved around both individual companies and the structural trends currently shaping market movements.

One of the companies discussed was Sweden’s Thule, which ahead of its capital markets day chose to lower its growth target. Alexander noted that Thule is a quality company with a strong market position, which—like many other quality names—has faced clear headwinds in recent years. Meanwhile, more cyclical sectors, such as banks, have performed significantly better.

Alexander also highlighted a trend concerning the performance gap between large-cap and mid-cap companies. The largest U.S. tech giants—the MAG7—continue to dominate returns, while mid-caps have increasingly underperformed, reaching levels not seen since around 1999 and the dot-com bubble. However, he emphasized that this does not necessarily mean a bubble is about to burst; rather, it may indicate that a new driver is emerging. Alexander pointed out, for example, that the Trump administration has expressed ambitions to strengthen the American middle class and the broader economy, which could create new market leadership—beyond the ongoing AI-driven dominance.

The broadcast also featured Christian Ringnes, who shared his views on the real estate market and the sale of Scandic Hotels. Asmodee was also highlighted.

Watch this morning’s Börsmorgon here (in Swedish).

Please note that all investments involve risk. Share prices may rise or fall in value, and investments always carry the risk of loss. Historical returns are never a guarantee of future performance.