Avoiding Fomo
This week's highlight article, written by acclaimed financial writer Morgan Housel, is on the topic of the "Fear of Missing Out (FOMO)" mentality and the destructive financial and emotional behaviors that can spawn from this mindset. Timely and especially crucial for younger investors who have been inundated with headline news of overnight successes or perhaps even have friends who have struck it rich in high flying tech and cryptocurrency speculation, the article offers tips and strategies for overcoming FOMO - relying on patience and discipline to achieve your own investment goals and avoiding impulsive and emotionally drive investment decisions in an attempt to catch up to others.
Manager Survey
Four Hundred portfolio managers attending Goldman Sachs' 2023 Global Strategy Conference were surveyed on their opinion of the best performing asset class in the year ahead. Relative to 2022, PM confidence in fixed income has risen the most, particularly for corporate bonds as higher yields, more attractive coupons, and an expectation for less interest rate volatility may continue to support portfolio asset rotations back into bonds in 2023. Predictions such as these should always be taken with a grain of salt, however the survey does provide meaningful insight into current sentiment and positioning.
What Else We're Reading
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