{"id":24010,"date":"2016-10-26T09:39:21","date_gmt":"2016-10-26T09:39:21","guid":{"rendered":"http:\/\/www.tressis.com\/blog\/?p=24010"},"modified":"2023-05-29T12:39:53","modified_gmt":"2023-05-29T10:39:53","slug":"la-cuestion-sectorial","status":"publish","type":"post","link":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/","title":{"rendered":"La cuesti\u00f3n sectorial"},"content":{"rendered":"<p>Durante los meses de verano observamos un incipiente <strong><a href=\"https:\/\/www.tressis.com\/blog\/giro-sectores-defensivos-hacia-sectores-sesgo-mas-ciclico\/\">giro de sectores defensivos hacia sectores de sesgo m\u00e1s c\u00edclico<\/a><\/strong>. Un proceso que deber\u00eda consolidarse a lo largo de los pr\u00f3ximos meses en la medida en que el mercado conf\u00ede en un mayor crecimiento econ\u00f3mico.<!--more--><\/p>\n<p>Los <strong>mercados europeos a\u00fan no han conseguido romper la tendencia bajista<\/strong> que dio comienzo en abril de 2015 cuando los \u00edndices marcaron niveles m\u00e1ximos de los \u00faltimos ocho a\u00f1os. Una fase correctiva que en sus comienzos contempl\u00e1bamos como normal, tras las subidas que se iniciaron en 2012 y que tuvieron como detonante las m\u00e1gicas palabras pronunciadas por Draghi, pero que se fue complicando en profundidad y duraci\u00f3n.<\/p>\n<p>Entre otros factores que nos llevaron a una fase correctiva m\u00e1s aguda se encuentran: una mayor intensidad en la ca\u00edda de los precios de las materias primas que provoc\u00f3 un nuevo derrumbe en los mercados emergentes, la desaceleraci\u00f3n en China con persistentes dudas sobre su tipo de aterrizaje y la amenaza incesante de una subida de tipos de inter\u00e9s en EE.UU. Ahora, cuando faltan poco m\u00e1s de dos meses para finalizar este 2016, en el que hemos vivido a golpe de susto, hay elementos que han cambiado. El petr\u00f3leo marc\u00f3 m\u00ednimos de 27$ en enero y desde entonces hemos asistido a una estabilizaci\u00f3n en la zona de los 45-55$. China se asienta y se revisan al alza los beneficios de las compa\u00f1\u00edas y el crecimiento para el conjunto de las econom\u00edas emergentes. Los desarrollados mejoran aunque lentamente, la Fed se muestra sin prisa por esa subida de tipos lenta y gradual y adem\u00e1s pensamos que el gran movimiento en divisas ya lo hemos visto.<\/p>\n<p>En definitiva, una fase correctiva que cada vez nos proporciona m\u00e1s indicios de estar llegando a su fin. Entre estos s\u00edntomas est\u00e1 el relativo mejor comportamiento de los sectores c\u00edclicos.<\/p>\n<p>En primer lugar hay que decir que la diversificaci\u00f3n sigue siendo b\u00e1sica y<strong> sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos<\/strong>. Optar\u00edamos por conformar una cartera donde tengan presencia valores defensivos y acciones con sesgo m\u00e1s c\u00edclico. Las empresas defensivas pueden sufrir cierto retraso frente a los \u00edndices si finalmente los mercados se giran en positivo con fuerza, pero su presencia compensa por la protecci\u00f3n relativa que nos ofrecen si el mercado se queda m\u00e1s retrasado. Las c\u00edclicas proporcionar\u00e1n impulso a la cartera si contin\u00faan confirm\u00e1ndose las mejoras a nivel macro y microecon\u00f3mico.<\/p>\n<p>Debemos tener en cuenta que la tipolog\u00eda de sectores no se reduce a los extremos c\u00edclicos y defensivos. Mejor pondremos algunos ejemplos con compa\u00f1\u00edas espa\u00f1olas para que nos ayuden a establecer estas diferencias.<\/p>\n<p><strong>Defensivos<\/strong>: se muestran poco sensibles al ciclo, tienen crecimientos modestos y presentan una elevada rentabilidad por dividendo. <i>Utilities<\/i> (Enag\u00e1s, Iberdrola), Telecos (Telef\u00f3nica, Euskaltel) o Alimentaci\u00f3n (Ebro, Viscofan).<\/p>\n<p><strong>Crecimiento-equilibrado<\/strong>: a largo plazo mantienen crecimientos superiores a los defensivos y sus ingresos suelen ser estables. Gestores de Infraestructuras (Abertis, Aena, Ferrovial) y Salud (Grifols, Almirall).<\/p>\n<p><strong>Crecimiento<\/strong>: elevados crecimientos a largo plazo con una influencia relativamente baja del ciclo. Suelen cotizar con elevados m\u00faltiplos y sus dividendos no son muy jugosos porque orientan sus beneficios a inversiones para continuar creciendo. La tecnolog\u00eda con Amadeus ser\u00eda un claro exponente o Inditex.<\/p>\n<p><strong>Crecimiento-agresivo<\/strong>: el ciclo les afecta de lleno y tienen mayor volatilidad. Industriales (Gamesa o T\u00e9cnicas Reunidas) o algunas tecnol\u00f3gicas m\u00e1s c\u00edclicas como Indra.<\/p>\n<p><strong>C\u00edclicos<\/strong>: sectores m\u00e1s maduros y esencialmente ligados al ciclo econ\u00f3mico. Materias primas, consumo c\u00edclico, aerol\u00edneas, autos, hoteles, media, aseguradoras y construcci\u00f3n (Acerinox, Meli\u00e1, Mediaset, IAG, ACS o Mapfre).<\/p>\n<p>Hemos dejado fuera energ\u00eda y bancos que dependiendo del momento del ciclo pueden cambiar su papel. En estos momentos, cuando los bancos se ven asediados por el regulador, sus expectativas de crecimiento son bajas y sus elevados dividendos hacen que su tipolog\u00eda se asemeje m\u00e1s a la de una <i>utility<\/i>, si no fuera por el elevado riesgo que presentan medido por la fuerte oscilaci\u00f3n de sus precios.<\/p>\n<p>La <strong>selecci\u00f3n de valores<\/strong> dentro de cada tipolog\u00eda nos permitir\u00e1 ir sesgando nuestras carteras seg\u00fan nuestra preferencia entre rentabilidad y riesgo y ajustarla en funci\u00f3n del escenario que contemplemos.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Virginia M. P\u00e9rez Palomino<\/strong><br \/>\nResponsable de Renta Variable<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Durante los meses de verano observamos un incipiente giro de sectores defensivos hacia sectores de sesgo m\u00e1s c\u00edclico. Un proceso que deber\u00eda consolidarse a lo largo de los pr\u00f3ximos meses en la medida en que el mercado conf\u00ede en un mayor crecimiento econ\u00f3mico.<\/p>\n","protected":false},"author":4,"featured_media":24014,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8554],"tags":[506,658,1137,1531,2364,4187,6079,6479,6822],"class_list":["post-24010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analisis-e-inversiones","tag-bancos","tag-bolsas","tag-ciclicos","tag-crecimiento","tag-energia","tag-mercados","tag-sectores","tag-tecnologia","tag-valores-defensivos"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>La cuesti\u00f3n sectorial<\/title>\n<meta name=\"description\" content=\"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/\" \/>\n<meta property=\"og:locale\" content=\"ca_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"La cuesti\u00f3n sectorial\" \/>\n<meta property=\"og:description\" content=\"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/\" \/>\n<meta property=\"og:site_name\" content=\"Tressis\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Tressis\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-26T09:39:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-29T10:39:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"487\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TressisSV\" \/>\n<meta name=\"twitter:site\" content=\"@TressisSV\" \/>\n<meta name=\"twitter:label1\" content=\"Escrit per\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Temps estimat de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minuts\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/\"},\"author\":{\"name\":\"Lola\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#\\\/schema\\\/person\\\/b833c1d724d8764920b6d6852c70584e\"},\"headline\":\"La cuesti\u00f3n sectorial\",\"datePublished\":\"2016-10-26T09:39:21+00:00\",\"dateModified\":\"2023-05-29T10:39:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/\"},\"wordCount\":763,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/03A16018.jpg\",\"keywords\":[\"bancos\",\"bolsas\",\"c\u00edclicos\",\"crecimiento\",\"energ\u00eda\",\"mercados\",\"sectores\",\"tecnolog\u00eda\",\"valores defensivos\"],\"articleSection\":[\"An\u00e1lisis &amp; Inversiones\"],\"inLanguage\":\"ca\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/\",\"url\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/\",\"name\":\"La cuesti\u00f3n sectorial\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/03A16018.jpg\",\"datePublished\":\"2016-10-26T09:39:21+00:00\",\"dateModified\":\"2023-05-29T10:39:53+00:00\",\"description\":\"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#breadcrumb\"},\"inLanguage\":\"ca\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/03A16018.jpg\",\"contentUrl\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/03A16018.jpg\",\"width\":1100,\"height\":487,\"caption\":\"La cuesti\u00f3n sectorial\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/blog\\\/la-cuestion-sectorial\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Inicio\",\"item\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"advertencia\",\"item\":\"https:\\\/\\\/www.tressis.com\\\/blog\\\/etiquetas\\\/advertencia\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"La cuesti\u00f3n sectorial\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#website\",\"url\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/\",\"name\":\"Tressis banca privada\",\"description\":\"Tressis | Planificaci\u00f3n financiera y gesti\u00f3n de patrimonios\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ca\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#organization\",\"name\":\"Tressis\",\"url\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/logo-tressis-112.png\",\"contentUrl\":\"https:\\\/\\\/www.tressis.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/logo-tressis-112.png\",\"width\":112,\"height\":112,\"caption\":\"Tressis\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Tressis\\\/\",\"https:\\\/\\\/x.com\\\/TressisSV\",\"https:\\\/\\\/www.instagram.com\\\/tressissv\\\/?hl=es\",\"https:\\\/\\\/linkedin.com\\\/company\\\/tressis\\\/\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/tressissv\",\"https:\\\/\\\/open.spotify.com\\\/show\\\/3jmTe1Nf0wqMILl7diWV6h?si=d7112519f13c4593&nd=1\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.tressis.com\\\/ca\\\/#\\\/schema\\\/person\\\/b833c1d724d8764920b6d6852c70584e\",\"name\":\"Lola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g\",\"caption\":\"Lola\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"La cuesti\u00f3n sectorial","description":"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/","og_locale":"ca_ES","og_type":"article","og_title":"La cuesti\u00f3n sectorial","og_description":"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos","og_url":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/","og_site_name":"Tressis","article_publisher":"https:\/\/www.facebook.com\/Tressis\/","article_published_time":"2016-10-26T09:39:21+00:00","article_modified_time":"2023-05-29T10:39:53+00:00","og_image":[{"width":1100,"height":487,"url":"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg","type":"image\/jpeg"}],"author":"Lola","twitter_card":"summary_large_image","twitter_creator":"@TressisSV","twitter_site":"@TressisSV","twitter_misc":{"Escrit per":"Lola","Temps estimat de lectura":"4 minuts"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#article","isPartOf":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/"},"author":{"name":"Lola","@id":"https:\/\/www.tressis.com\/ca\/#\/schema\/person\/b833c1d724d8764920b6d6852c70584e"},"headline":"La cuesti\u00f3n sectorial","datePublished":"2016-10-26T09:39:21+00:00","dateModified":"2023-05-29T10:39:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/"},"wordCount":763,"commentCount":0,"publisher":{"@id":"https:\/\/www.tressis.com\/ca\/#organization"},"image":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#primaryimage"},"thumbnailUrl":"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg","keywords":["bancos","bolsas","c\u00edclicos","crecimiento","energ\u00eda","mercados","sectores","tecnolog\u00eda","valores defensivos"],"articleSection":["An\u00e1lisis &amp; Inversiones"],"inLanguage":"ca","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/","url":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/","name":"La cuesti\u00f3n sectorial","isPartOf":{"@id":"https:\/\/www.tressis.com\/ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#primaryimage"},"image":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#primaryimage"},"thumbnailUrl":"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg","datePublished":"2016-10-26T09:39:21+00:00","dateModified":"2023-05-29T10:39:53+00:00","description":"La diversificaci\u00f3n sigue siendo b\u00e1sica y que sesgar las carteras a valores m\u00e1s ligados al ciclo econ\u00f3mico no significa abandonar los valores m\u00e1s defensivos","breadcrumb":{"@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#breadcrumb"},"inLanguage":"ca","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/"]}]},{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#primaryimage","url":"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg","contentUrl":"https:\/\/www.tressis.com\/wp-content\/uploads\/2016\/10\/03A16018.jpg","width":1100,"height":487,"caption":"La cuesti\u00f3n sectorial"},{"@type":"BreadcrumbList","@id":"https:\/\/www.tressis.com\/ca\/blog\/la-cuestion-sectorial\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Inicio","item":"https:\/\/www.tressis.com\/ca\/"},{"@type":"ListItem","position":2,"name":"advertencia","item":"https:\/\/www.tressis.com\/blog\/etiquetas\/advertencia\/"},{"@type":"ListItem","position":3,"name":"La cuesti\u00f3n sectorial"}]},{"@type":"WebSite","@id":"https:\/\/www.tressis.com\/ca\/#website","url":"https:\/\/www.tressis.com\/ca\/","name":"Tressis banca privada","description":"Tressis | Planificaci\u00f3n financiera y gesti\u00f3n de patrimonios","publisher":{"@id":"https:\/\/www.tressis.com\/ca\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tressis.com\/ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ca"},{"@type":"Organization","@id":"https:\/\/www.tressis.com\/ca\/#organization","name":"Tressis","url":"https:\/\/www.tressis.com\/ca\/","logo":{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/www.tressis.com\/ca\/#\/schema\/logo\/image\/","url":"https:\/\/www.tressis.com\/wp-content\/uploads\/2025\/06\/logo-tressis-112.png","contentUrl":"https:\/\/www.tressis.com\/wp-content\/uploads\/2025\/06\/logo-tressis-112.png","width":112,"height":112,"caption":"Tressis"},"image":{"@id":"https:\/\/www.tressis.com\/ca\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Tressis\/","https:\/\/x.com\/TressisSV","https:\/\/www.instagram.com\/tressissv\/?hl=es","https:\/\/linkedin.com\/company\/tressis\/","https:\/\/www.youtube.com\/user\/tressissv","https:\/\/open.spotify.com\/show\/3jmTe1Nf0wqMILl7diWV6h?si=d7112519f13c4593&nd=1"]},{"@type":"Person","@id":"https:\/\/www.tressis.com\/ca\/#\/schema\/person\/b833c1d724d8764920b6d6852c70584e","name":"Lola","image":{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/secure.gravatar.com\/avatar\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/05e646486b23ff45df9649110609c7e31b8c4a3e2821caa23d6317f405e0c51d?s=96&d=mm&r=g","caption":"Lola"}}]}},"_links":{"self":[{"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/posts\/24010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/comments?post=24010"}],"version-history":[{"count":0,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/posts\/24010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/media\/24014"}],"wp:attachment":[{"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/media?parent=24010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/categories?post=24010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tressis.com\/ca\/wp-json\/wp\/v2\/tags?post=24010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}