Pottering About
Past the worst?
Looking at my 3 personal portfolios (UK Sterling SIPP, UK Sterling collectives and Euro collectives) I note a noticeable flattening out of what had been a longish mostly downwards line on the valuation over time graph.
In fact, July was a month of modest gains overall, with the best results in the Euro portfolio, suggesting that over the month Sterling may have appreciated a tad against the currencies underlying the largest holdings I have in my UK pots.
I cannot of course guarantee it, but my feeling is that early Summer 2023 may be the inflection point when the bear market that started some time in late Autumn 2021 and which has had stuttering false recoveries comes to an end.
There are plenty of predictions of better economic growth and ‘soft landings’ and unsurprisingly (at least to me), corporate profits are in the main on the up, thanks to the consumer being suckered with price increases, quietly approved of by governments and central banks whether justified or not!
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