Outlook 2023 Edition: Long-term perspective on markets and economies

There’s a new reality taking shape in global markets. Many commentators are focusing on the rotation from growth to value, but I think that view is too simplistic. Some investors may be hoping for a return to normal after central banks stop raising interest rates and inflation subsides. In my view that’s not the path forward due to several seismic shifts that will likely define the next decade of investing.