Wishing you Shana Tova in the financial markets and beyond!
The last quarter has been a painful one in global markets. August was one of the worst months we have had since the 2008 crises. It is one thing to talk about expected volatility but it is another thing to experience it (professional money managers are human too).
Please be assured that we are watching the situation very carefully to protect your investments and seek opportunities. This volatility has been a long time in the making and we have commented on this expectation in previous quarterly communications, explaining how we position ourselves to optimize the relative risk and return environment.
The consensus is that this volatility is here to stay, so we need to be disciplined and hold the course. We must be very careful not to make the classic behavioral finance mistakes of selling at the wrong time so we need to stick to our long-term plans.