Columbia Threadneedle: On pause: the one-way certainty of the market is over … for now
The macroeconomic backdrop is changing, or at least uncertain. This could shift the pricing of risk assets, but it won’t change what we do, which is look for stronger competitively advantaged businesses that fit our quality growth philosophy.
27.08.2024 | 07:04 Uhr
When we invest money on behalf of our clients, we seek superior businesses with durable competitive advantages and commensurate high returns on capital. The aim is that the compounding nature of these businesses builds wealth over the medium and long term.
But not every market participant shares the same goal. Much of the volume in the market is driven by shorter-term traders, many of whom are exploiting strategies they believe can generate return while diminishing risk. Occasionally these strategies can add significant volatility to returns.
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