Global Matters Weekly – 16 January 2023

Well, that wasn’t expected…

by Richard Parfect — Fund Manager

— Risk is integral to investing; it is ultimately what determines returns

Having booked my first skiing holiday in 11 years with some friends in Chamonix towards the end of January, I’m seeing news articles showing temperatures approaching 10c and zero snow on the ground. When I booked the trip for my group, of all the things I considered that might scupper the trip; no snow in the Alps, in January, was not one of them. Investing is far from immune to such tales of the unexpected.

Market Snapshot

    • Global equities returned 3.3% last week
    • The World Bank released its latest round of economic projections, with global growth projection for 2023 now at 1.7%, marking a downgrade from 3.0% forecasted in June
    • Brent crude rose by 8.5% to $85.28 per barrel
    • Gold rose 2.9% to $1920.23 per ounce