Fall 2016 Newsletter

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This has been a fascinating and eventful year for investors.  It’s been a year of challenges, philosophical debate and struggle.  There’s also been a great deal of progress.  Traditional norms are being tested and reassessed.  We’re seeing it politically, socially and economically.  Change has been a multi-year theme.  It continues.

Globalization is being re-thought.  Nationalism is on the rise while free trade seems to be losing friends.  There is a power shift around the globe.  The West is being challenged by the East.  Europe and America are also facing challenges from within.  The Brexit vote and our Presidential election are direct reflections.  Emerging Markets are on the rise while Mature Markets continue to evolve.

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