4th October 2022
Orbis: Quarterly Commentary Orbis Global Equity
The heady days of the “Everything Bubble” of 2021 now seem like a distant memory. Global equities have declined over 20% in US dollars since the start of the year, and the most speculative areas of the market have seen far steeper losses. That said, global markets still do not look particularly cheap and there are plenty of real-world risks weighing on both sentiment and fundamentals—rampant inflation, war in Ukraine, and an energy crisis, to name just a few.
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