What a Difference a Quarter Makes…
The mood has unmistakably shifted.
Just three months ago, Markets were gripped by extreme fear – tariffs, trade wars, and a resurgent inflation narrative dominated the tape. The reaction? Sell first, ask questions later. The result? A swift -20% drawdown in short order.
Fast forward to today, and there’s a noticeable difference, a bit of exuberance is back. Markets have not only clawed back losses but are solidly in the green for the year. It’s that familiar emotional pendulum: panic to party, all in record time. We quietly miss the days of calmer Markets… but we’re not holding our breath. Exhale.
A timely reminder, especially during these Market and Sentiment extremes, to stay grounded and breathe. Emotions may drive headlines, but objectivity drives investment results. Our lack of enthusiasm late last year kept us relatively insulated during the deep Spring correction – and allowed us to stay clear-headed when things looked bleak.
Where do we find ourselves today? Restrained optimism probably sums it up quite well…
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