In Part 2 of WealthTrack’s annual outlook, Matt McLennan and ISI’s Ed Hyman discuss the dramatic financial changes occurring around the world and what they mean for businesses and investors.
Matt McLennan is interviewed alongside ISI’s Ed Hyman for Part 1 of WealthTrack’s annual outlook. They discuss what has changed in financial markets over the last year and what it means for the U.S. economy and markets.
The events of 2016 reinforced our long-held belief that complex events cannot be predicted with confidence.
While we don’t have a crystal ball at First Eagle, we do have a sense of current valuations and of the underlying vulnerabilities in the system. If the broader markets themselves are priced for low returns, investors who choose passive vehicles face the prospect of singularly disappointing returns over the long term.
This morning’s election results once again drove home the futility of human efforts to predict the future.