A new dawn, a fresh perspective in 2018, with Piguet Galland

As 2018 dawns, many of us ponder over possible outcomes for the year ahead on a macro and a micro-economic level; we track the confidence of financial experts as we attempt to anticipate the evolution of our financial world in future weeks and months.  Economists, analysing the duration of periods of economic growth, observe that the current cycle (at almost 103 months) is the longest since the growth period lasting 119 months from 1991 to 2001; in contrast the recession of 2007-9 lasted just 18 months from peak to trough.  To pursue this reflection, our Piguet Galland investment analysts will be sharing their insights and outlook for 2018 during our event “Perspectives Economiques” on January 25th in Geneva (don’t hesitate to send me a personal message if you would like to join us).

On an individual level, we are often so preoccupied with our busy working lives that we don’t take the necessary time to assess the true perspectives of our own financial situation.  Few people recognise the personal financial cycles they experience, we may omit to capitalise fully on periods of growth (wealth building) and, unless we work with a wealth manager, we rarely anticipate the troughs or “holes” we are unwittingly digging ourselves into.  As the famous Warren Buffet quote suggests: “…the most important thing to do when you find yourself in hole, is to stop digging…”; this thought reminds me of Bernard Cribbin’s 1962 musical gem “The Hole in the Ground”…

“There I was, a-digging this hole,

 A hole in the ground, so big and sort of round it was,

 There was I, digging it deep,

 It was flat at the bottom and the sides were steep…”

What about your personal financial perspectives for 2018? Do you consider that you are starting the year with a detailed plan for your personal finances and a clear view over a broad panorama, or does it seem as if there is a steep slope ahead of you, blocking your vision, as though you were in some kind of a hole with no evident way out?  The answer will depend very much on the clarity of your own horizon, the (apparent) stability of your current situation and any changes, anticipated or not, which may occur during the course of the year.

As a new year dawns, we often set ourselves specific resolutions, to be “fitter”, “lighter”, “healthier”, “stronger”… In 2018 rather than resolving to do the same things better, continuing in much the same direction (albeit down into a hole), it may be useful to consider things we are not currently doing, but which we know we ought to do, in order to broaden our horizon and improve our personal financial outlook…

As 2018 commences, seize the opportunity to seek a new dawn, a new perspective; of course, with my passion for wealth management, I will be delighted to help.