Market
Memos from Howard Marks: Mr. Market MiscalculatesHistory suggests that private equity investments launched during challenging market environments have historically performed well.
For most investors, 2022 was a challenging year. War in Ukraine, the U.S. Federal Reserve hiking interest rates and reducing its stockpile of bonds, pandemic-related supply shocks, and the highest inflation in four decades contributed to a highly volatile year in public markets with both stocks and bonds falling.