candlestick and line chart of mid-year stock performance

Road not taken

November 2022.
Investor Strategy.

The next few quarters will likely remain volatile in both directions. Fortunately, entry points today in either equities or bonds do offer a compelling 12-month outlook. In a year, inflation will likely have subsided to a degree. If a recession arises in North America, it should be largely played out by that point. There might be better entry points ahead, but one-year return expectations are the best we have seen in many years, given current yields and valuation. Based on this view we remain comfortable with being market-weight equities and bonds. Should either market sell off more, it would be more enticing to go overweight at that time.

Related articles

Investor Strategy

Goldilocks and the bad news bears

May 6, 2024. Investor Strategy. There is lots of good and bad news these days. While our fear of a recession has diminished over the…

2 minute read


The importance of asking ‘why’?

April 1, 2024. Investor Strategy. With Q1 2024 now behind us, we’re asking three key questions. Why are we: - positioned the way we are?…

2 minute read

Investor Strategy

Bubbles popping and gravity are inevitable

March 5, 2024. Investor Strategy. The history of markets is filled with examples of bubbles, but gravity inevitably exerts its force. Could the next bubble…

2 minute read