Prepare, don't predict: It pays to stay humble in fluctuating markets

This year has seen investors contending with a rapidly evolving macroeconomic landscape, with three interconnected threats facing advisers and their clients. Firstly, we have the challenge of structural inflation - stubbornly tight labour markets and supply chain contraints are a legacy of the pandemic years, as the global economy attempts to kick-start following a period of enforced hibernation. Arguably, there has also been a stalling of globalisation that has been in the works since the Global Financial Crisis in 2008 - rising geopolitical tensions, exemplified by regulatory and fi...