Quarterly Newsletter - Winter 2013
If market indices are deemed to be reliable indicators, then 2013 was a very positive period with America’s S&P 500 Index breaching several all-time highs and finishing some 29% ahead for the year. Even in the UK, where early in the year we were worrying about a “triple dip” recession, the FTSE-100 Index managed a gain of 14%.
The general tone on news flow through the year would hardly seem to support this rosy outcome – previous issues of the Newsletter have highlighted the ongoing problems within the EU, fears for a slowdown in China’s economic performance and the political stalemate in the US which culminated in a government shutdown in October. In addition, there has been political sabre-rattling or, in some cases outright conflict whilst, on the business front, earnings have become increasingly soft.
So what could explain the near complacency evidenced by ...
The general tone on news flow through the year would hardly seem to support this rosy outcome – previous issues of the Newsletter have highlighted the ongoing problems within the EU, fears for a slowdown in China’s economic performance and the political stalemate in the US which culminated in a government shutdown in October. In addition, there has been political sabre-rattling or, in some cases outright conflict whilst, on the business front, earnings have become increasingly soft.
So what could explain the near complacency evidenced by ...
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