Banque Bonhôte & Cie SA

2, quai Osterwald

CH - 2001 Neuchâtel

+41 (0)32 722 1000

1950 - 2015

Or why everybody is better off.

Change in eight Subcomponents since 2000

Or why it is getting ever more expensive to keep up with the Jones

The cost of trying to outsmart the market as an active investor