In August, I suggested it was time for investors to go underweight growth in their portfolios, as growth markets (that is, equities) would start to struggle in a slowing economy. I am now doubling down on my call to maintain the defensive posture as, from my perspective, in 2024 we will likely experience an economic recession in Australia.
I draw a lot of inspiration from economic history. So, let's revisit an important lesson about the direct link between rising interest rates