Fourth Quarter 2023 Market Newsletter

Markets

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Read the full Fourth Quarter 2023 Market Newsletter HERE

EXECUTIVE SUMMARY

Hopes of a ‘soft landing’ and interest rate cuts by the Federal reserve propelled stocks and bonds in the fourth quarter of 2023 leading to good annual performance.

The unique post-pandemic economic cycle has been filled with conflicting economic data leading to what some have dubbed ‘rolling recessions. Some areas have undergone recessionary weakness while others are relatively strong.

Inflation has decisively and significantly subsided from the highs set in 2022.

The Federal Reserve acknowledged some progress in curbing inflation through tighter monetary policy but emphasized the need for continued vigilance.

In 2023, corporate earnings exhibited slow and uneven growth, reflecting the economic uncertainty.

Investing in themes seems good on paper but not practical, you are better off investing in a diversified portfolio of large well-established companies.

‘It is about time in the markets and not timing the markets’. Missing 14 of the best days last year would have reduced your performance to 0% vs over 26% if you had stayed invested all through the year.

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