{"id":5577,"date":"2026-04-08T00:19:44","date_gmt":"2026-04-07T22:19:44","guid":{"rendered":"https:\/\/monocle.lu\/?p=5577"},"modified":"2026-04-08T00:19:44","modified_gmt":"2026-04-07T22:19:44","slug":"le-billet-de-monocle","status":"publish","type":"post","link":"https:\/\/monocle.lu\/en\/2026\/04\/08\/le-billet-de-monocle\/","title":{"rendered":"Le Billet de Monocle"},"content":{"rendered":"<div data-olk-copy-source=\"MessageBody\">Je croyais que post cette fusion du fonds mon agenda s&rsquo;offrirait une respiration mais me voil\u00e0 \u00e0 presque minuit en train de vous \u00e9crire.<\/div>\n<div data-olk-copy-source=\"MessageBody\">&#8211;<\/div>\n<div data-olk-copy-source=\"MessageBody\">Presque minuit et quelques heures avant l&rsquo;ultimatum de Trump sur l&rsquo;Iran. J&rsquo;ai pos\u00e9 deux questions \u00e0 Nicolas tout \u00e0 l&rsquo;heure:<\/div>\n<div data-olk-copy-source=\"MessageBody\">1\/ Frappe ou non ?<\/div>\n<div data-olk-copy-source=\"MessageBody\">2\/ Si frappe y-a-t-il risque de spirale?<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div data-olk-copy-source=\"MessageBody\">&#8211;<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div data-olk-copy-source=\"MessageBody\">R\u00e9ponse: 50\/50 et non.<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div data-olk-copy-source=\"MessageBody\">&#8211;<\/div>\n<div data-olk-copy-source=\"MessageBody\">Cela dit il rajoute le b\u00e9mol suivant:<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div data-olk-copy-source=\"MessageBody\">&#8211;<\/div>\n<div data-olk-copy-source=\"MessageBody\">&lt;&lt;On peut se demander si la raison est encore de mise dans la conduite de la guerre \u00e0 Washington. On nous soutient mordicus que le limogeage du G\u00e9n\u00e9ral Randy George, chef d\u2019\u00e9tat-major de l\u2019US Army &#8211; nomm\u00e9 par J. Biden &#8211; n\u2019a rien \u00e0 voir avec un d\u00e9saccord sur la conduite des op\u00e9rations et la place &#8211; quasiment inexistante &#8211; qu\u2019y occupe l\u2019Army, c\u2019est quand m\u00eame un signal pr\u00e9occupant. Changer l\u2019un de ses principaux conseillers et chefs militaires en pleine op\u00e9ration, voil\u00e0 qui est quand m\u00eame intrigant ;<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div data-olk-copy-source=\"MessageBody\">&#8211;<\/div>\n<div>&#8211; C\u00f4t\u00e9 conduite politique, on entend assez peu celui qui est &#8211; toutes proportions gard\u00e9es &#8211; le Zbignew Brzezinski* de l\u2019administration Trump 2, \u00e0 savoir Eldridge Colby. L\u2019architecte de la National Defense Strategy semble relativement d\u00e9pass\u00e9 par son chef, le bouillonnant Pete Hegseth. L\u00e0 o\u00f9 Colby fait figure d\u2019id\u00e9ologue et de penseur des relations internationales et de la place des Etats-Unis dans le monde &#8211; le fameux H\u00e9misph\u00e8re occidental &#8211; Hegseth est plut\u00f4t l\u2019ex\u00e9cuteur docile, voire le chargeur de combustible, des volont\u00e9s de son pr\u00e9sident ;<\/div>\n<div><\/div>\n<div>&#8211;<\/div>\n<div>&#8211; Sur P. Hegseth, pour bien saisir la psych\u00e9 du personnage, il faut rappeler qu\u2019il adore se montrer torse nu, pour exhiber ses tatouages en mode \u00ab crois\u00e9 \u00bb et surtout celui, r\u00e9dig\u00e9 en arabe sur son biceps droit: Kafir (litt\u00e9ralement :M\u00e9cr\u00e9ant) pour revendiquer son positionnement vis \u00e0 vis de l\u2019islam. Hegseth est aussi l\u2019incarnation d\u2019une forme de \u00ab bonne militarit\u00e9 \u00bb suivant les canons R\u00e9publicains les plus durs: ancien de la Garde nationale, il appartient \u00e0 cette force vue chez les plus conservateurs comme l\u2019\u00e9manation du peuple, par opposition aux forces arm\u00e9es r\u00e9guli\u00e8res qualifi\u00e9es de \u00ab bureaucratie \u00bb. Ayant servi en Irak et en Afghanistan, il s\u2019est surtout fait conna\u00eetre comme \u00e9ditorialiste sur Fox News et a une approche tr\u00e8s bas du spectre des questions militaires. Loin d\u2019\u00eatre un strat\u00e9giste, c\u2019est avant tout un partisan forcen\u00e9 de l\u2019action militaire directe et brutale. Bref pas un po\u00e8te. &gt;&gt;<\/div>\n<div><\/div>\n<div>&#8211;<\/div>\n<div>J&rsquo;avoue que le fait que l&rsquo;actuel ministre de la Guerre &#8211; nouveau nom du poste &#8211; soit recouvert de tatouages fleuris, m\u00eame dans un film de s\u00e9rie B j&rsquo;aurais trouv\u00e9 cela peu cr\u00e9dible. Nous sommes donc dans une s\u00e9rie C ce qui n&rsquo;est pas bien r\u00e9jouissant.<\/div>\n<div><\/div>\n<div>&#8211;<\/div>\n<div>Le fonds Monocle Fonds de Fonds est \u00e0 &#8211; 4.18% depuis le d\u00e9but de l&rsquo;ann\u00e9e avec une exposition action \u00e0 38%, dont 16% en direct et 22% \u00e0 travers les fonds &#8211; notre concept d&rsquo; \u00ab\u00a0\u00e9quipe de foot\u00a0\u00bb. Pas de changement majeur cette semaine, Guillaume et Paul* sont en train de g\u00e9rer progressivement le post-fusion. A ce sujet, la fusion a \u00e9t\u00e9 trait\u00e9e par plusieurs fournisseurs de donn\u00e9es comme une fermeture et ne publient donc plus la performance. Le probl\u00e8me a \u00e9t\u00e9 remont\u00e9 par le d\u00e9positaire et devrait \u00eatre r\u00e9gl\u00e9 rapidement mais dans l&rsquo;intervalle n&rsquo;h\u00e9sitez pas \u00e0 nous contacter si vous avez des questions.<\/div>\n<div><\/div>\n<div>&#8211;<\/div>\n<div>La semaine prochaine devrait voir arriver la fusion du deuxi\u00e8me fonds o\u00f9 nous retrouverons les lignes individuelles avec lesquelles je vous ai bassin\u00e9s ces derni\u00e8res ann\u00e9es. Donc si vous pensiez y avoir \u00e9chapp\u00e9 c&rsquo;est loup\u00e9, vous allez rapidement entendre parler des Duolingo, Affirm, Aurora et tutti quanti&#8230;<\/div>\n<div><\/div>\n<div>&#8211;<\/div>\n<div>Excellente semaine<\/div>\n<div><\/div>\n<div><\/div>\n<div>Charles<\/div>\n<div><\/div>\n<div><\/div>\n<div>* Zbignew Brzezinski, conseiller \u00e0 la s\u00e9curit\u00e9 nationale du pr\u00e9sident des \u00c9tats-Unis Jimmy Carter, de 1977 \u00e0 1981, partisan d&rsquo;une politique plus agressive vis-\u00e0-vis de l&rsquo;URSS.<\/div>\n<div>* Paul Lefebvre de VIA AM, second g\u00e9rant du fonds<\/div>","protected":false},"excerpt":{"rendered":"<p>Je croyais que post cette fusion du fonds mon agenda s&rsquo;offrirait une respiration mais me voil\u00e0 \u00e0 presque minuit en train de vous \u00e9crire. &#8211; Presque minuit et&#8230;<\/p>","protected":false},"author":8,"featured_media":5579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-le-billet-de-monocle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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