If there’s one thing that this week has taught us, it’s that volatility is the only certainty.from fearing a GFC-like meltdown to enjoying an impressive rally
Wheat for pasta . Gas for heating and electrification . Iron ore for steel . Copper. Critical minerals. And yes, even dirty old coal. “Even in a weakening global economic environment, the lack of investment that’s gone into a number of those commodities will mean that we do relatively well in terms of income across the board.”which this week slowed the pace of rate rises as it waits to see what effect previous hikes have hadThey know a degree of pain is coming for economic conditions – primarily, Lanchester says, via the housing market – but how deep that pain will be is less clear.
But whatever type of downturn Australia is heading into, the economy’s starting point is very strong. Will there be pain? Of course – aggregate and average statistics always hide the tail risks that cause the biggest problems.So how do local investors approach the Twilight Zone that Lanchester describes? He argues for careful stock picking, with a focus on quality business run by quality executives.
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