MacNicol’s Monthly Commentary – March 2022

With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better understand what we see going on in the marketplace.

“This idea that in order to make a decision you need to focus on the consequences, which you can know, rather than the probability, which you cannot know, is the central idea of uncertainty”
– Nassim Taleb, Author of The Black Swan


We ain’t comrades no more…

The situation in Ukraine is shocking, worrying and frankly disgusting. As someone with close family in Poland and cousins in Ukraine the invasion hit close to home. Short of offering my home as a place of refuge if Putin’s troops make progress to the west, there was little I could do to reassure my family that things would be okay. But another family I have is our great clients here at MacNicol & Associates. By now, I have gotten to know most of you and I enjoy communicating with each of you through this publication. When I considered what might be going through your minds during this time, I felt better equipped to help. You see in general; the stock market doesn’t really care that much about war. This might be as shocking for you to read as it was for me to write, but it is also true.


Click the link below to download the full commentary…

Click here: The Monthly March 2022