GTC Trendline – Fourth Quarter 2023
Overview
If the theme of The Trendline in the last quarter of 2023 was navigating through tempestuous investment seas, then the subsequent theme for the first quarter of 2024 is to wish for boring times. Of course, boring probably means no upside as well as no downside, and we always wish for an upside.
We mean boring in that we hope that the world remains a calm enough place that investment-making decisions are not all based on the consequences of war. Global unrest stretches from the Ukraine-Russia war, with all the ancillary parties that enter that fray, together with the more recent, though now well-established Hamas-Israeli war, with all their ancillary parties, as well as the ever-increasing Chinese-Taiwan tensions. Were we to be able to report in the next quarter that there was no escalation in these tensions, we would regard this as a successfully boring quarter. As always, please do use these current affairs as context for a more detailed investment discussion with one of our advisory professionals.
