March 2020 was an awful month for humankind, financial markets and our funds. North American equity indices saw total return losses of 12.35% for the S&P500 and 17.38% for the TSX. The waterfall declines were fuelled by the excess leverage in corporate credit and shadow banking, largely in the U.S. followed by a more general selling of financial assets. While the rapidity of the declines had the years 2008 & 1929 on the lips of investors, unlike those bears, this attack was triggered by an exogenous event. Global equities lost US$7.88T of their value during the month of March 2020 or US$14.88T since their high on February 19th.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.