In this quarter’s Insights publication, Expecting Exceptionalism, we review 2024’s market surprises and speculate on what lies ahead for 2025. US markets continue their climb, pushing valuations higher and popularising the term “US Exceptionalism”. Meanwhile, the sheer weight of capital flowing into passive investing is rapidly reshaping price discovery. Europe struggles with energy challenges, and China contends with cautious consumers and slowing growth.
We also delve into rising debt costs, property’s newest trends, and the political pressures weighing on Big Tech. With expectations running high, we ask: what risks might investors be overlooking?
This quarter’s insights focus on staying prepared, balancing caution with confidence, and prioritising quality investments as markets remain unpredictable.
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