November 2022 Monthly Letter
For November, equity markets continued their recovery from October’s lows. The U.S. market in S&P 500 terms (+5.59%), was easily beaten by both the International Developed market and Emerging market Indexes (+11.28% and +14.85%, respectively) for the month. International Indexes are not as heavily exposed to technology as the U.S. indexes, and technology lagged all […]
Buy Rumor / Sell News
December 7, 2022 Good morning, Buy the rumor / Sell the news apparently still works … in China. The announcement of a widespread relaxation in Covid rules and restrictions last night resulted in their market closing sharply lower on the day. Recall the November optimism over an end to Covid-zero policies, which helped propel Chinese […]