Topic: How To Invest

What is Pat’s commentary for the week of November 8, 2016

Article Excerpt

Dear Inner Circle member: Here’s the text of my October letter to our Portfolio Management clients: “As I said in my last quarterly letter, we’re now in what you might call a time of ‘tumultuous but non-catastrophic events.’ The best example at the time was the surprise June 23 victory for the ‘Leave’ option in the U.K. Brexit referendum. That was the opposite of the result predicted and favoured by the U.K. government and most political commentators. Another tumultuous but non-catastrophic event occurred on October 2, when voters in Colombia’s referendum rejected an agreement that would have ended the country’s war with FARC, a Marxist guerilla group. This too was the opposite of the predicted and favoured result. Colombian President Juan Manuel Santos wanted a peace deal, and he won a Nobel Prize for his efforts. The Colombian people wanted an actual peace, and did not believe this deal would supply it. Meanwhile, a far more important tumultuous-but-non-catastrophic process has been underway for more than…