Vol. October 2023 – Long-Term Capital Fund Factsheet
October was a difficult month for most investors. Global equities have been swinging up and down, but mostly down reflecting the fear of “longer for higher” rates. Fed has been waiting for inflation to cool on a sustained basis, and our assessment of the CPI potential paths from now to March 2024 indicates that Fed’s patience may just be rewarded this time. However, investors need to be patient in waiting for rate cuts to come.