Taking advantage of the market’s big reset
While it may not seem like it just now, our analysis suggests that the global economy is healing and poised for further recovery, full of potential opportunities to build profitable and resilient portfolios.
This is a good time to be a global investor, maybe even a very good time.
If you find that hard to believe, you are not alone.
In 2023, we have seen moments when investors were absolutely sure that equities were headed lower (September) and when investors were absolutely sure that rates could only go higher1.In both cases, investor sentiment proved wrong. Nevertheless, as of the week ending November 15, investor confidence as measured by the American Association of Individual Investors stood at 16% net bullish, hardly a ringing endorsement for the future.2
With war in Ukraine and Israel, tensions ongoing between the US and China, impending contentious presidential elections in the US and six other countries, gridlock in the US Congress and abounding doomsday scenarios about the impact of artificial intelligence (AI), it is not easy to have a clear vision on the direction of markets. Meanwhile, 5% annualized short-term rates are distracting investors, encouraging them to quietly become market timers.
Meet our wealth expert
David has overall responsibility for Citi Global Wealth Investments, which unifies the Investments teams of the Private Bank and the Consumer Bank worldwide.
As Chief Investment Officer, David ensures the integration of our asset allocation, manager research and portfolio management teams, and offers his perspectives on the markets.
David joined the Private Bank in 2009 as the Global Head of Managed Investments. He designed the architecture of our global managed investments platform, including its Citi Investment Management unit, and our distinctive private equity, real estate, hedge fund and traditional investment teams. He became Global Head of Investments in October of 2017.