Umbra WM Quarterly Commentary & Market Outlook_Q1 2023
Umbra CIO, Marcus Szemruk publishes his Q1 ’23 review. Reading back over Marcus’ recent 2022 quarterly reviews shows how Umbra has identified key market moves when it mattered. From correctly calling the inflation peak in Q3 ’22 to recommending owning duration and equities via durability plays in the lows of Q4 ’22, we’ve been true to our playbook of forming well-reasoned, robust views across the asset classes. We’re all experienced enough to know no-one gets it right all the time but kudos to Marcus and team on accurately navigating a very difficult set of markets. And they’re not over yet. Read on for Marcus’ assessment of what lies ahead.