Happy New Year in 2025!

January 1, 2025

2 minute read

Dear fellow investment professionals, and investors,

We hope yours was a relaxing, happy and peaceful holiday season.

As we eagerly anticipate the year ahead, we can't help but look back on 2024 with a sense of pride in what we were able to accomplish, on behalf of you. It was a year of significant achievements, made possible by your unwavering support. Your contributions, readership and feedback are been instrumental in our success, and we are deeply grateful for your continued partnership.

2024 was a masterclass in mixed signals. Inflation cooled, then flared, while central banks flip-flopped between hawkishness and dovishness like contestants in a game show with no clear prize. Is the rally in Magnificent 7 stocks sustainable? Will stock market breadth materialize? Is an equity market correction or worse around the corner? Will long term yields recede? That’s anyone’s guess, unless, of course, the world, or policymakers decide to throw another curveball. Despite signs of resilience, the road ahead remains a tightrope act, teetering between recession fears and soft landing hopes. We remain cautiously optimistic, expecting a gradual slowdown.

We’ve been leaning hard into the idea that being prepared for all economic and market scenarios is essential, therefore, resilient portfolio construction is key. All the tools are available, whatever you believe is in store for markets. Just because markets and policymakers alike seemed to collectively shrug and mutter, "We’ll see what happens,” doesn’t mean we should invest too much faith in hope. More skill, and less luck, is what will see us all through.

That’s why we’ll continue to work tirelessly daily, to provide valuable insights, and forge academic partnerships to bring you a thoughtful balance of in- and out-of-consensus market and economic analysis and insight. We'll also work to provide you with much more intel on actionable solutions that address our collective uncertainty of what's ahead, in 2025, and beyond.

Please visit us to read, watch, or listen to all the complete interviews, articles and podcasts of 2024. Stay tuned and stay in touch.

As we navigate this dynamic period in markets and the economy with you and within our organization, we do so, with you, front of mind, and remain committed to serving you. With each passing year, we have grown (thanks to you!) and have some thrilling plans in store for you as we head into 2025.

Once again, we extend our heartfelt thanks for your continuous support and for being an integral part of our extended family and community.

Wishing you and yours all the very best – great health, prosperity and every success in 2025!