From The Desk of Peter Kraus

In Short

With 2024 now firmly in the rear-view mirror, the year was highlighted by the start of easing cycles across developed market central banks, strong equity outperformance (particularly by mega-cap stocks), and by volatile global geopolitics which included a historic number of significant elections across regions, many of which had unexpected results.

In summary, the mixed signals emanating from last year, along with the significant anticipated upcoming changes make forecasting more difficult for 2025 than in recent years. However, I think that growth will be one of the most significant themes for the year, and overall, the direction of travel for growth in the US, Europe, and China will be positive. With the theme of economic growth in mind, I believe it will be vital to diversify investments as different segments of various asset classes have run their course or will likely underperform as the economic environment changes.

 

Download the full publication below:

Aperture Investors_CEO Letter_2024.pdf
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