Fast Food World
We are living in a “fast food world” with an ever increasing demand for instant gratification and little regard for quality and nutritional content. Information moves at speeds so quickly that important details are often lost in the noise or even quickly forgotten after a few passing moments. This is extremely evident in the financial markets. The amount of information available to investors today can be paralyzing, and the financial markets are as volatile as ever. A few decades ago the average holding period for stocks could be measured in years and now only in months.* Government interventions in markets, historically high debt levels, and increasing globalization, will only exaggerate the unpredictability and uncertainty, and we are confident this will not change in the foreseeable future. Managing wealth in a fast food world will require skill, acuity, perspective, and vigilance.
*Source: NYSE Factbook