Quarterly Letter: Second Quarter 2024
We're already halfway through 2024, and it's going well.
The beginning of the year has been particularly busy following the federal government’s increase in the inclusion rate on capital gains. This last-minute government decision was quite disruptive for large accounting and wealth management firms. It could have been better communicated and deployed more progressively by the federal authorities.
Over the course of the second quarter, global inflation has continued to moderate and global economic growth momentum is also showing signs of easing. Meanwhile, equity markets are currently priced for a ‘goldilocks’ scenario. Such a scenario refers to an economic environment considered to be "just right" for continued stock market growth. However, we must not rule out the possibility of a weakening in economic growth and financial markets, both of which are difficult to predict.
To read more, download the latest Quarterly Letter.