InPerspective U.S. - Volume 4

Financial markets were almost universally strong during the third quarter, but the simultaneous vigor of usually divergent asset classes appeared ‘curiouser and curiouser'. In the period ahead, the investment landscape may be less forgiving than it was during the summer. However, a more demanding setting need not be disconcerting for investors, particularly when, as now, asset-price valuations fail adequately to differentiate between the prospects of likely ‘winners' and ‘losers'. The near-term fortunes of bond and equity markets are uncertain but, by drawing upon a well-grounded, durable investment approach, investors should find perspective and identify opportunities for long-term wealth creation.