2022 has been one of the worst years for investment on record. Most asset classes performed poorly – stocks, bonds, and cryptocurrencies. Only energy benefited from the war in Ukraine and the disruption to oil and gas supplies around the world. Even so, crude oil prices are down almost 50% from their peak earlier in the year.
As the Boss famously wrote “You can’t start a fire without a spark.” Of course, he was right. But fires need three things; they need a ‘spark,’ or source of heat; they also need fuel; and they need oxygen to burn.
Queen Elizabeth II, the UK’s longest-serving monarch, has died aged 96, after reigning for 70 years.
On February 24, the day that Russia invaded Ukraine, we wrote a blog called “World War Three” that warned of an acceleration in inflation