Mid-Autumn 2019 news note

Global markets ended miserably in 2018. Our clients understood the Value of Advice and how it takes away the emotion in long-term investing. The “V” shaped market recovery in early 2019 restored the temporary declines of the previous year. Market volatility became a regular feature for most of this year.

Macroeconomic issues of the day

Let me quickly go over a few economic issues for this year’s Mid-Autumn message. The Federal Reserve has commenced reduction in interest rates to add momentum to the US economic expansion policy. This action in itself may delay the recession that everyone is talking about. Market cycles are inevitable and we can’t avoid them or hide from slowdowns and negative GDP growth (recession).

The US-China trade war is taking its toll on people, companies and economies around the world (including Singapore). Geopolitical issues are ever present in the Middle East, HK, the UK, and the Korean peninsula. Climate change, burning of forests, and the haze have their own set of impact to the lives of people. Our PM’s National Day rally speech was particularly encouraging in that our own leaders are tackling tough challenges that other societies shy away from.

The bottom line is that we don’t have control over many of these external factors. We can only take care of our family and ourselves. There is no certainty around investment returns in the near term. Let’s take a critical look at our stated life goals and the actual progress we have made toward financial independence as well as maintaining our lifestyle.

Onward and upward for our private client service

Our private practice has grown quite nicely in 2019. We welcome our new clients, especially those from the wildly successful Finding Your True North event for young lawyers in July.

The year is fast coming to a close. I trust everyone is fairly satisfied with their achievements thus far. Drop me a message. I am very proud of all of my clients for the faith and dedication to the wealth management process we have embarked on. The client experience is what matters most to me.