This newsletter is being written in Los Angeles where all our family are gathered for the wedding of our middle child James Whittaker who’s latest book gets a mention later in this newsletter. As you know markets are having a shocker, but I am comforted by the following words from Don Gimbel who runs the Geneva Advisors Global Equity Income Fund in which I have an investment. Don is a close friend of mine and has been managing money for high net worth investors around the world for more than 50 years. He will be our house guest next month when he visits Australia. He was referring to last week.
“For equity traders it was a very tough week. For those of us who are long term investors it was a week when the potential for a trade war and continued concern about direction kept us awake at night.
Our view is that the global economy continues on solid footing. We believe that economic growth during the balance of 2018 and well into 2019 will reward well managed companies.
Certainly their are worries, but remember that the market climbs a wall of worry.”