Insights

ICM Monthly Outlook - October 2022

Since April of this year, we have been convinced that the global economy has entered a synchronised slowdown and that this will ultimately take the sting out of inflation and pressure off higher prices. Subsequent economic data has only reinforced this view, and it should therefore come as no surprise that we stick by our view and are now even more convinced that our view will prove correct.

The Rising Emerging Market Middle Class

In 2018, a key global threshold was crossed: over half of the world’s population was now considered ‘middle class’. It cannot be overstated that the expansion of the global middle class is fundamentally transforming patterns of trade, consumption and investment around the world.

ICM Monthly Outlook - September 2022

As an active manager, our overriding goal is to beat the market return. Indeed, the holy grail is to beat the market return but with less price volatility than the market. For some months, we have adopted a non-consensus view. We believe the U.S. and global economy will weaken quickly, vanquishing the Federal Reserve's latitude to hike interest rates aggressively. In our opinion, it is only a matter of a few months before significant economic weakness forces the Federal Reserve to go on hold indefinitely.

InPost

We have seen a number of interesting discussions, impressive management teams and investment opportunities. One company that continues to catch our eye is ...

ICM Monthly Outlook - August 2022

As investors, we know uncertainty creates price volatility. When we have more than one possible investment outcome, we get greater price volatility as the market tries to price in the probability of these various outcomes and the implications for markets. One way of dealing with this uncertainty is to adjust your investment timeframe. Generally, if we consider complex questions over a longer timeframe, we can narrow the number of probable outcomes and sometimes almost eliminate the uncertainty.