Geneva Management Group Q1 2018

Geneva Management Group

Q1 2018

Market Comment

The first steps into 2018 were full of hope and some would say, rather naive. Encouraged by long-term momentum, a subdued level of volatility and the US fiscal stimulus, some investors were of the thought that nothing could derail this long-term upward trend we’ve experienced over the last couple of years. After all, as economists and asset managers constantly repeated throughout 2017, we are in a “synchronised growth” environment and obviously, the stars have aligned to support the notion that we’re getting the “best of all possible worlds”. At the risk of sounding like Voltaire and despite my deepest wish to be living in a preestablished order, the reality is that some risks were bound to resurface and it was merely a question of when.

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