November 2025 - Market Update скачать в хорошем качестве

November 2025 - Market Update

Mac Owens, True North’s Director of Investments, and Dhruv Maniktala, True North’s Chief Investment Officer, sat down to discuss the forces shaping today’s market environment and what they mean for long-term investors. This quarter’s conversation explores the growing tension between inflation pressures, evolving Fed policy, and signs of economic softening—alongside the renewed volatility created by AI-driven speculation in the public markets. Mac and Dhruv also dive into how these dynamics differ across private markets, where themes such as liquidity, secondary market activity, and the pace of distributions are meaningfully influencing manager behavior and opportunity sets. Their discussion provides a thoughtful look at where resilience is emerging, where caution is warranted, and how True North continues to position portfolios with discipline amid a backdrop that can feel noisy and disjointed. We hope you find their insights valuable as you consider the months ahead. Subscribe for ongoing market insights and portfolio perspectives from the True North investment team.