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Welcome to our November newsletter. The fickle macro market<br /> continues in fits and spasms, this time a more positive one. The extent to which this is justified by improving economic fundamentals remains to be seen.<br /> <br /> Some reconsideration of over-sold assets, especially those in healthcare that were impacted by the GLP-1 ‘meme’ carry trade is both long overdue and very welcome. Let us hope this next market phase is more considered and data-driven and less reflexive.<br /> <br /> As investors say goodbye to 2023 and consider the world anew, they could do much worse than reflect on the unchanged dynamics of healthcare demand, inured as it is from consumer sentiment and consumer credit. Moreover, there is a lot of inherent ‘value’ in a world where the prices of many other types of assets or other equity sectors appear rich.

Bellevue Healthcare Trust Factsheet November 2023

Welcome to our November newsletter. The fickle macro market
continues in fits and spasms, this time a more positive one. The extent to which this is justified by improving economic fundamentals remains to be seen.

Some reconsideration of over-sold assets, especially those in healthcare that were impacted by the GLP-1 ‘meme’ carry trade is both long overdue and very welcome. Let us hope this next market phase is more considered and data-driven and less reflexive.

As investors say goodbye to 2023 and consider the world anew, they could do much worse than reflect on the unchanged dynamics of healthcare demand, inured as it is from consumer sentiment and consumer credit. Moreover, there is a lot of inherent ‘value’ in a world where the prices of many other types of assets or other equity sectors appear rich.
11.12.2023
#Healthcare Global