A Year in Review 2022

It is important to note that financial markets and their participants are forward looking, while recessions are identified with lagging indicators – looking backward. Once a recession is clearly identified (as was the case in 2020) the market decline has often reached its trough. At this juncture, markets were already in the next expansion phase and generating¬†positive returns. Hang in there – let’s not miss out on the brighter days!

We hope you enjoy this installment of Timonier’s “From the Engine Room”.

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