Darren Sissons' Top Picks: March 28, 2023
BNN Bloomberg
Top picks from Darren Sissons, partner and portfolio Mmanager, Campbell, Lee & Ross
FOCUS: Global and technology stocks
MARKET OUTLOOK:
We have seen four major systemic breaches in under 12 months. This includes the U.K., pension crisis and the failure of two U.S. banks, followed by the forced acquisition of Credit Suisse by UBS. Please recall, a systemic breach is a high-risk market event as it significantly enhances the risk of negative price spirals and cross-asset class contagion. In 2008 for example, most financial markets melted following the systemic failures of Bear Stearns and Lehman Brothers. Buyers disappeared. Securities fell significantly. Except for a small group of securities such as credit default swaps, the downward price spiral across asset classes reached full-blown contagion and hit both investors across multiple asset classes and the economy very hard.
