Monthly Market Update
August 2022: A Lesson in Positioning
“You know more than you think you know, just as you know less than you want to know.”
– Oscar Wilde
The tricky summer for investors continues with July posting the best return in eighteen months. While there was some encouraging traction behind the peak inflation and Fed tightening narratives, as well as better than expected earnings, we suspect depressed sentiment and positioning may have played the biggest role. Macro uncertainty is still elevated, but we are encouraged by the recent progress. Nevertheless, the back half of the year will have plenty in store for investors.
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