"One thing I am certain of is that, in recent years, investors have talked a lot about “rising uncertainty”. While it undoubtedly feels that way, it is not always clear what we actually mean when we say this – isn’t the world always uncertain? It absolutely is. Even when things feel 'normal' we are still hopeless at making financial market or economic forecasts because the world is simply too complex."
"You pay a very high price in the stock market for a cheery consensus."
"Volatility is the price of admission for the returns that equity markets deliver over time. Provided overall market exposure is appropriately calibrated to our long term goals, short term price swings are a feature, not a flaw, of the asset class."
"Investors are applying the buy the dip playbook on geopolitics, even as sentiment sours. I think flow momentum is a big reason why equities are holding up so well."
"You pay a very high price in the stock market for a cheery consensus."
"Volatility is the price of admission for the returns that equity markets deliver over time. Provided overall market exposure is appropriately calibrated to our long term goals, short term price swings are a feature, not a flaw, of the asset class."
"Investors are applying the buy the dip playbook on geopolitics, even as sentiment sours. I think flow momentum is a big reason why equities are holding up so well."