Just about a year ago, only days after we shifted to a remote working environment, I wrote a note to our investment teams across the globe. I urged them to focus on two things as they grappled with extreme market conditions.
"Keep a long‑term orientation, and remain grounded in the fundamentals," I wrote.
So how did we do? And where do markets go from here?
Those are key questions we're discussing right now. Reflecting on the investment decisions our portfolio managers made in the past year, there were many calls we got right. Admittedly, there were also outcomes we didn't anticipate. As for what's next, we are watching several developments, including clear signs of speculation in markets now.
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