Dear Valued Castleview Clients & Friends:
Looking back over the first half of the year, our prior stated concerns regarding slowing economic growth, persistently elevated consumer prices and latent risks emanating from increased interest rates appear mostly on target. The one standout surprise has been the degree of resurgence in large-cap technology share prices. Although our most recent comments expressed a need to focus on quality balance sheet companies in 2023 (“Ideas to Consider”, p.15), we also expect that even these “fortress balance sheet” market-leading companies, will ultimately encounter business valuation limits. Perhaps change is in the air.
Click here to read more from Castleview's market commentary for July.