Monday Macro: Caution warranted but not too much pessimism
I’ve made a small handful of changes to the two asset allocation tables, as I grow more cautious on equities and government securities. Plus private equity valuations are improving
There’ll be no letters next week (week commencing Monday 29th April) as I’m away, in sunny Porto on a business trip – any recommendations of places to visit in or near Porto gratefully received, especially out of the city (I have a car for an afternoon). Normal service will be resumed the week after, i.e. Monday, May 6th.
I reckon it's time for an update…
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