Our Views
Cross Quarterly
Patience has often been said to be a virtue In today’s markets, patience has the added benefit of making time work in your favor due to high interest rates Risk free rates are at levels unseen in a decade The more time that goes by, the more intere...
The last quarter saw markets delivering yet another period of pain to investors A surge in risky assets saw many market participants being caught out by extremely bearish positioning and rush to add to risk assets, only to see equities falling by ~7%...
Investors who were rushing out of equities to stay in cash came rushing back in as risk assets rallied against consensus expectations Bank failures in the US were contained by regulators and the US debt ceiling eventually found bipartisan consensus H...
Monetary policy is a very blunt tool and may be ill-equipped to deal with all the intricacies of something as large and complex as the US economy By raising interest rates aggressively to combat inflation, the Federal Reserve runs a high risk of brea...
2022 was a historic year, where numerous stocks once held to be darlings fell over 75% Worse, assets which were once thought to be safe also faced historic drawdowns as fixed income had its worst year in well over multiple decades As we go into 2023,...
The Fed Chair’s acknowledgement that economic pain may be required to bring down inflation stands in marked contrast to prior rosy projections of a soft landing While inflation may have indeed peaked, we remind investors that peak inflation is not ...