News - What happens now
Like an good old PC game, Credit Suisse is no more.
$17bn worth of Tier 1 bonds are out of the window - Written to zero, creating what must be a furious bunch of rich (now poor?) investors.
As a result, yesterday proved to be an interesting day in the markets.
So what now?
In my opinion the dust needs to settle and we need to focus on the FED interest rate decision tomorrow, and then I would expect a slight calm now before the storm.
The storm being the recession coming in, probably around 2-4 months.
When that happens, bonds, gold and defensive assets is usually the right call.
So far 2023 have been crazy and I’m happy with the -3% on the portfolio so far. This is a long-term game.
No crazy decisions, no gamling with money.
We win some, we lose some.
🙋♂️ What are you doing out there? 🙋♀️
Long-term Martin, out.