Back at the end of September, we hosted Wellington-Altus Private Wealth’s Chief Market Strategist, Dr. James Thorne, at our office to chat about the current state of the market and his predictions for 2025. If you weren’t in the room with us, I’ve summed up the discussion, so you don’t miss out on any of that crucial information. Find the key notes below and keep on the lookout for more great discussions with market experts in the future. There are many more to come!
- Trump will win the election
Right, wrong, or indifferent, he believes that Trump will win the U.S. presidential election. This is based on the strongholds of the Republican Party and the platform that he is running on. One of the results of this (among many) will be potential trade wars that could start as early as Q1 2025. Whoever wins will have to go through a period of austerity, like in Canada. This means less government spending, resulting in slower GDP growth.
- Bitcoin and Crypto has evolved and continues to evolve
Wall Street is gradually accepting bitcoin as a legitimate asset class. For example, BlackRock, Fidelity, and BNY Mellon are on board, so there’s no way back now. Bitcoin has outperformed any other asset class in the last 10 years. However, it’s not for everyone. Some love it, but some cannot stomach the volatility. Interestingly enough, El Salvador adopted bitcoin as a legal tender because a third of their GDP comes from people working in the U.S. and sending money back home.
- Artificial intelligence and secular growth
Secular growth is defined by Dr. Thorne as investments that will continue to grow, regardless of what happens in the economy. He really touched on the fact that we are in a secular bull market through to the end of this decade—this is based on historical data and what he’s seeing. Artificial intelligence is highly prevalent, and more and more portfolios are incorporating uranium, moving towards green energy. However, the expectation is that energy demand will increase sharply in the years to come—the world cannot rely on clean energy sources other than nuclear right now.
Remember, if you have any financial questions or concerns, it’s always important to consult your financial professional for assistance.
I hope this was an insightful recap for you! I’ll also be breaking down these ideas on my Wealth With Julie social.
