“It is better to be roughly right than be precisely wrong.”— John Maynard Keynes INTERNATIONAL MARKETS The S&P 500 once again defied all expectations in 2023, producing close to a 27% total return in what was widely anticipated to be a negative year for equity
“The big money is not in the buying and selling, but in the waiting.” — Charlie Munger INTERNATIONAL MARKETS Historically August and September are known to be seasonally weak months for capital markets and this quarter showed no deviation from the norm as all major
“Money is always eager and ready to work for anyone who is ready to employ it.” — Idowu Koyenikan INTERNATIONAL MARKETS At first glance, U.S. equity markets look upbeat, with the S&P 500 up around 15% in the last 3 months. However, this has been
“Courage taught me no matter how bad a crisis gets…any sound investment will eventually pay off” — Carlos Slim Helu INTERNATIONAL MARKETS The first quarter has come and gone, but not without leaving an indelible mark on markets. Rising interest rates, low liquidity and a
Over the March 17th weekend, Swiss banking giant UBS acquired its cross-street rival Credit Suisse (CS) after the first globally systemically important bank (GSIB) failure since the 2008 global financial crisis (GFC). Existing Credit Suisse (CS) shareholders would receive one share in the new UBS
On Friday, March 10th 2023 trading in shares of the Silicon Valley Bank (SVB) was halted as state regulators in California closed the struggling bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the Receiver. All of SVB’s deposits and assets were placed under
” Successful investing is about managing risk, not avoiding it” — Benjamin Graham INTERNATIONAL MARKETS 2022 started with a bang as growing optimism for a global post Covid recovery quickly panned towards a scramble to pare losses, as markets plunged to decade lows. While inflation
“Successful investors demonstrate caution in frothy markets and steadfast conviction in panicky ones” — Seth Klarman. INTERNATIONAL MARKETS Equity markets sank during the quarter as the Federal Reserve remained steadfast in its approach to raising interest rates. European stocks, especially, underperformed. Yields climbed, with the
“There will always be bull markets followed by bear markets followed by bull markets” — John Templeton. INTERNATIONAL MARKETS 2022 has been nothing short of volatile and Q2 2022 was no different as recession risks loom. Global markets felt the pain of sky-high inflation, war,
INTERNATIONAL MARKETS Inflation now stands at 8.5% reaching a 41-year high. Arocky start to 2022 for the equity markets with growth stock trading at deep discounts from increased selling pressure due to a cocktail of negative factors. Surging inflation, interest rate hikes, Russian-Ukraine warfare and