As 2023 comes to a close, we are once again so grateful to have clients who are true partners as we navigate the ever-changing market conditions together. Looking back on the decades we have spent managing money, it never fails to amaze us that each year brings its own unseen complications and “out-of-the-blue” wins. 2024 should be no different as we anticipate more volatility in the markets given, among other things, the looming elections, the geopolitical unrest, and possibly higher for longer interest rates.
At the beginning of this year, after the previous year’s volatility, we remained cautiously optimistic as there were both positive and negative indicators pointing in seemingly opposite directions. Thankfully, most global markets are poised to end 2023 posting strong results. It is this type of market recovery that reconfirms our conviction to stay the course in our long-term investment plans. The rebound we talked about during 2022 presented itself in 2023, and we were happy to be positioned appropriately to take advantage of that growth.
Heading into 2024, we will continue to work hard to be at the forefront of the changing market conditions. We look forward to continuing to partner with you, our wonderful clients, to achieve your personal and financial goals.
We wish you & yours a wonderful holiday season and a Happy New Year filled with peace and joy!
"The pendulum is swinging toward smaller government. If leaders fulfill this desire, investors around the globe will have reason to cheer. While Argentina has followed a different rhythm than many Western countries, the elections of Margaret Thatcher and Ronald Reagan changed the direction of global economic growth. Is it happening again?"
"When stocks zig, bonds are supposed to zag. That time-honored relationship has broken down over the past few years, but there are encouraging signs of its eventual return."
"Following a strong first half of 2023, third quarter returns were more challenged across almost all asset classes. One outlier was high-yield debt, which often serves as a way to de-risk equity exposures when stocks are under pressure. Most year-to-date returns remain in positive territory, yet a closer look at equities during the third quarter reveals a story of different chapters."
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