TopPicks from Gordon Reid, president and chief executive officer, Goodreid Investment Counsel
FOCUS: U.S. equitiesGood riddance to September 2022, the worst September performance in U.S. equity markets since 2008. The quarter was a wild ride, recording at one point a 14 per cent advance in the S&P 500 index, only to close in negative territory, the first time this has happened since 1931!
It all points to an extremely conflicted investor who is worried about the U.S. Federal Reserve finally getting religion and taking on inflation and asset bubbles that had developed in both the equity market and the real estate market. It appears that its actions are being noted and acted upon, see bond rates! Markets have repriced and now we wait to see if the Fed’s actions will also have an unintended consequence .
We see the market sitting on a fulcrum.
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