– Andrew Macken
It has been another year filled with twists, turns and challenges. One year ago, equity markets were in free fall and bearishness was higher than it was during the 2008 Global Financial Crisis (see chart below). And yet today, monetary policies have recommenced accommodating, the UK has some long-awaited certainty and the US and China appear to be collaborating (to some extent). In short, equity markets are strong.
Google Trends index for keyword: “Bear Market”
Source: Google Trends
We will reflect on the year that was in our December Quarterly Letter and update our positioning for 2020. This should be out in early January. In the meantime, we would like to take this opportunity to wish all our investors, readers and supporters a merry Christmas and a safe and happy holiday period. We once again thank you for your ongoing support and the trust you place in us to preserve and grow your wealth.
I would also like to take this opportunity to thank each and every one of our team. From our investment team, to our operations and finance team, to our business development team and our distribution partners. It has been a very busy year and everyone has earned a well-deserved break. We are already looking forward to recommencing in early January to do it all again.
Andrew Macken is the Chief Investment Officer of Montaka Global Investments. To learn more about Montaka, please call +612 7202 0100.