2023
Podcast: Reviewing 2022 Predictions & 2023 Market Outlook
Welcome to 2023!
The year 2022 will be remembered as one of the worst ever in terms of market performance. Since the Great Depression began in 1929, there were only six years where the S&P 500 (one of the main indexes we track) performed worse than this year. Three of those years were prior to World War II.
So, while it would be nice to turn the page and forget about last year, we do need to be held accountable.
Returning to the podcast is one of our favourite guests, Drummond Brodeur (Senior VP & Global Strategist, CI Global Asset Management).
We had Drummond on for our first podcast of 2022, so we hold his feet to the fire and review his predictions for the last calendar year.
More importantly, we talked to Drummond about what lies ahead in terms of inflation, a recession, and the markets.
You can listen to the podcast through these popular avenues.
Or, you can watch the video podcast below.
Here is a recap of the key moments from the episode
What Drummond got right (and wrong..)
Reading the crystal ball isn’t an exact science.
However, I have to give Drummond credit, he did pretty well on his predictions, all things considered.
It’s almost like he’s been doing this for a long time…(sorry Drummond, you’re not old, you’re just “seasoned” 😊)
So, what do you think? Do you give Drummond a pass for his 2022 predictions?
What’s Next for Inflation?
Inflation was right at the heart of all market issues in 2022.
The Russia/Ukraine and COVID lockdowns in China caused inflation to rise dramatically last year.
However, could dramatic drop in inflation follow suit?
“I think it’s going to come down quicker than a lot of people might expect,” Drummond said in the clip below. He also references one key aspect of inflation that might prevent this from coming to fruition.
Recession isn’t a four-letter word
Therefore, no need for cussing if (and when) we do officially enter a recession.
Not all recessions are created equal, and Drummond talks about the characteristics of this one versus some of the other recessions in recent times.
The bond market is back
For the first time in a long-time, we might add.
While the bond (or fixed income market) has offered stability and decent downside protection (until last year), it hasn’t been a lucrative investment market.
That’s changed in recent months.
We touched on this during the last podcast we recorded in 2022, but Drummond hammered this point home further in the clip below.
Where are opportunities in the stock market?
If you’ve been in meetings with us recently, you’ve probably heard us talk about how we’re “bumping along the bottom.”
Drummond echoes that same sentiment, although he talks about how those bumps might be a little more noticeable in the first half of the year.
Next Episode
So, will Drummond’s predictions about 2023 come true? Tune in this time next year to find out.
We are extremely appreciative of Drummond for joining the podcast. He has a long track record of being on top of portfolios and the global markets for our clients, and we’re happy that he’s willing to join the podcast on occasion so that you can hear his thoughts.
On the next episode, we will have a guest that I know very well (and some of you know her too).
Cara Lawson (aka, my better half) will join the next episode of the Wealth Wisdom Podcast in order to give you some insights on the world of interior design.
She owns her own business (Cara Interiors) with a growing reputation for both residential and commercial design.
Our goal for this podcast since its inception has been to provide education on a number of different topics, aside from just strictly finance.
Remember, if you like what we’re doing (in terms of the podcast or managing your financial well-being), you can always leave a review. 😊
Until next time,
Assante Sana
John Lawson (CFP®, CIM, FEA), Senior Wealth Advisor
Sana Family Office | Assante Capital Management Ltd.
Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
