October [in this case June] . This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February."
Mark Twain, Pudd'nhead
“The four most dangerous words in investing are ‘This time it’s different.’”-Sir John Templeton
While these are old phrases for the markets, it seems apt to read them as we come to the end of the quarter. June was not a good equity month. It was also a difficult period for fixed income as inflation is upon the global economy. The FX markets have been in turmoil as investors try and adjust to the new world of higher inflation and credit risk. The only area of positive returns was commodities but these returns are only had through taking high risk.In a period of turmoil, let the second half of the year begin.
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