A Last Note About 2023
Before we close the chapter for 2023, let’s take a look back at what we have experienced this year in markets and what lessons we can glean for the year ahead in 2024. 2023 has been eventful to say the least, some notable events this year:
March 2023
Failure of Credit Suisse. Silicon Valley Bank becomes the biggest U.S. lender to fail since 2008.
August 2023
China’s economy slip into deflation.
September 2023
US 10-year yields hit highest levels since 2007.
October 2023
Israeli forces attack on Gaza.
With all the negative headlines encompassing financial, economic, and geopolitical turmoil, global markets are up almost +20% this year. As we stand at the precipice of the new year, predictions and forecasts about what the stock market will do next year will undoubtedly be made.
…but in this world nothing can be said to be certain, except death and taxes.
— Benjamin Franklin
We do not profess to have the psychic ability to predict what markets will do; neither do our investment strategies rely on predictions to capture returns. What we can predict is that in addition to Benjamin Franklin’s certainties (death and taxes), we are certain that there will be recessions, interest rate changes, and financial crises down the road.
Over the past century, humans have overcome some harrowing times. World War 1, the Spanish Flu, a global depression, Cold War, Korean War, Vietnam War, the Arms Race, and more recently as shown above, oil shocks, stagflationary environment of the 70s and 80s, and many other financial crises over the years.
As we step into the new year, many things are going to change, but yet, some things will always remain the same. A well developed financial plan that is built upon a strong investment philosophy will be prepared to deal with surprises and account for them. It should stand the test of time.
Believe in the human spirit to continue persevering and overcoming obstacles. Some people say that to be a successful investor, you have to be an optimist but looking at history’s track record, perhaps all you have to be is a realist. We’ve made it this far.
We would like to end 2023’s last insight with a big thank you to all our investors who have entrusted us with their capital. Our focus in 2024 and beyond stays ever steadfast, to grow your capital and preserve your wealth. Here’s to wishing you a Happy New Year!
Most of us would trust an accomplished physician to manage our health. After all, physicians have specialised training, real-world experience and access to tools outside the reach of the general public. Most importantly, they took an oath to prioritize the patient’s health over their own interests.
In the way same, GYC adapts insights from financial science to each client’s individual situation. We look at clients’ financial health holistically and work with them to create a plan that aims to accomplish their unique goals. We are a trusted partner who can help when times are tough.
If you would like to know how you can invest with a peace of mind and increase your probability of success, click here to schedule an exploratory chat with us. (Complimentary 30-minute session).