14 February 2017: Tax haven Switzerland

Meanwhile, somewhere else in Europe… The Swiss government is struggling with the taxation of corporations, now that a substantial majority of the Swiss has rejected an increase in corporate taxes. The alpine country is in danger of being added to the EU’s black list of tax havens. A rise in taxes could have led to an exodus of multinational companies, but the uncertainty about sanctions against Switzerland by the EU might have the same effect. It is clear that after more than 70 years of exception, Europe’s aspiration of creating a level playing field is growing.


Trump’s ‘phenomenal tax plan’ kept fueling US markets. The S&P 500 and the NASDAQ gained 0.52% and the Dow even added 0.70%. Volatility rose slightly from its very low level, with the VIX rising to 11.07 points (+2%). Our XIV ETNs gained 3.2%. Return since the start is now at 185%.
In this period of bullish sentiment, White Chapel is far from a trading signal. We stick to our XIV ETNs.

Accumulated capital at close of previous trading day

Return since start

Return this year

Return this quarter





Our initial capital was $10,000 at 1 January 2016. Our average Annual Return is 154%.

RS_v05-smallTo anyone who just prepared an exquisite culinary delicacy and then feels the urge to share this experience through social media with someone who is too far away to grab a taste.
You can talk about it. But please don’t show.