2021 turned out to be a relatively positive year for economies and markets in most parts of the world. But investors are likely to remain on the edge of their seats for most of 2022.
2021 is a year that reminded me of the song "If You're Going Through Hell". In the spirit of productive thinking and consideration of potential futures, I offer you my 2022 predictions for the next five years.
The investment community's word of 2020 was undoubtedly "unprecedented". "Transitory" is our submission for 2021. "Transition" may best encapsulate 2022.
As governments become accustomed to spending vast sums of money and workers regain their bargaining power, the short-term inflationary pressures attributed to Covid-19 will bleed into a longer period of higher inflation.
Total return portfolios can support retiree spending strategies while removing the temptation to increase risk - in the end, producing better outcomes for retirees.
The idea that duration is to be avoided at this stage of the cycle? It's bad economics, bad market timing, and bad risk management. It's nuts and you can clearly see it's nuts!
Fiscal stimulus will help boost US growth to its strongest levels in decades in 2022 and European economies are poised to rebound. However, inflationary pressures will persist. Portfolios will need assets that provide downside protection, as well as strategies to capitalise on the growth ahead.
Rich Pickings explores the investment beliefs and philosophies of prominent professional investors. In this episode, I'm in conversation with Andrew Clifford, co-founder, co-CIO and CEO of international equities manager, Platinum Asset Management.
Scientific studies suggest the world is still on track to exceed the 1.5 degrees Celsius increase in temperature relative to pre-industrial times, by 2050. We collectively need to do more - and the power of private capital has a key role to play.
The financial services industry has done the impossible and made money boring, opaque and difficult to understand. If we better understand the psychology of money, we can better help our clients.
Key officials at the US Federal Reserve have finally acknowledged that they mischaracterised an inflationary surge that has proven larger and more persistent than they expected. The Fed must now follow up by doing two things quickly.
The 17 Sustainable Development Goals (SDGs) are vitally important to building a better world for all humanity. Using an SDG framework reduces portfolio risk while making a positive SDG impact.
Private debt essential to modern investment portfolios. If the end objective is an attractive risk-adjusted return, then private debt is the means to get there.
Knowledge and proficiency in behavioural finance and investor psychology - finology - is developing ever better relationships with clients to help them achieve their goals. Benchmarking your current finology proficiency matters!
When markets are exuberant, it is difficult to see - let alone act - against the hubris. When markets are down in the dumps, it is difficult to see past the misery. A reductive macro-economic framework may help.
Unless economists recognise the existence of inescapable uncertainty, there can be no macroeconomic theory, only prudential responses to emergencies.
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