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A pandemic and Russia’s invasion of Ukraine have caused an energy crisis and added to inflation pressures, prompting Central Banks to ratchet up interest rates rapidly after years of highly stimulatory policy. With a recession likely in 2023, global shares have already shed 20% off their highs as investors ask not if, but rather how severe and how long that recession may be. Heightened volatility will prevail as investors navigate the range of outcomes, affording prudent investors, focused on high-quality companies with resilient cashflows, the opportunity to acquire businesses at valuations not seen for many years. Invariably, the market will move on from the voting mentality (sentiment) that has dominated recently, to weighing the relative attractiveness of underlying business fundamentals. A prudent and patient approach will be worth the 'weight' for those who look beyond the short term….
Chapters:
David George Q&A - (00:02:03)
Macro Outlook - Arvid Streimann - (00:11:05)
Portfolio positioning update - Nikki Thomas - (00:33:34)
Open Q&A - David, Arvid and Nikki - (00:58:14)
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