We started 2023 under a dark cloud. The consensus was for the challenges of 2022 to continue into 2023. The predictions for the year ahead ranged from terrible to lackluster returns. We not only avoided disaster, but it proved to be one of the best years on record.

 

This highlights the challenges of market predictions. To have an accurate prediction, you need to be right on two fronts: predicting what events will unfold and predicting what people’s reaction to the event will be. This is why predicting the future is not part of our investment philosophy. What do we focus on instead?

 

Having a good understanding of what our clients income and capital needs are, matching short term needs with short term assets and being comfortable with taking risk for long term needs as risk taking in financial markets will be rewarded over the long time horizons. It seems simple, but it will always amaze us how many investors get this wrong.

 

We are grateful for your ongoing support and confidence and are always available to answer any questions you may have.