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In the January issue, Cyrille Geneslay (picture), Balanced Portfolio Manager at CPR AM, gave us his first outlooks on 2016, insisting on the importance of flexibility in asset allocation.This month, he gets back on the pretty bumpy beginning of the year, especially for the equities markets. Bumpy, to say the least: 2016 actually witnessed the worst start ever on the equities markets! The question is: should the glass be seen half empty or half full? His answers below.
How can you explain this complicated start of 2016?
By several reasons: first, the competitive devaluation of the Yuan. On January 4th and 5th, the Chinese currency lost 0.5% of its value against the dollar. The investors thus feared that August 24th would happen all over again, and they...
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