Investors today are dealing with strong macro winds. It is not about the war in Ukraine, earthquakes or the divides in politics - those are all areas of concern to be addressed in other forums - it is about the persistent rise in interest rates. A wise and tenured investment manager was asked what his prediction was on rates and his response was that no one can really predict two things, inflation and interest rate direction. Recall the smart minds at the central banks calling “inflation transitory” not too long ago?
Intergenerational wealth, on our TV screens at least, conjures images of Succession’s Logan Roy dismissing one of his weasel kids with a sneer and expletive. In the real world, there is a monumental wealth shift happening, with US$30 trillion expected to be passed over to 90 million millennials in the next decade alone.
