What had been an okay-month for global equities ended with the Black Friday sell-off. The new Omicron variant roiled global markets and overshadowed the usual focus on retail spending. Typical “pandemic-winners” regained traction, while everything else fell out of favour. The dip also served as a crystal-clear reminder that the market’s trajectory hinges on the course of COVID-19. The MSCI World index ended November down -2.2%.
For this month, our "Chart of the Month” becomes a “Discussion of the Month”. View Urban Fritsche's, Raphael Oesch and Flavio Mancino key takeaways from this month's conferences in the US.
We attended the 43th annual Goldman Sachs Healthcare Conference 2022 from June 13th to 16th in Los Angeles, where we focussed mostly on Medtech and Service companies. We came away convinced that the healthcare sector will once again prove its defensive qualities as the dynamics of the healthcare market are less affected by the current macroeconomic backdrop.
The Kieger Healthcare team attended the Jefferies Healthcare Conference in New York from June 8th to June 10th 2022. This year, the overarching theme was the state of the Healthcare sector in the current cloudy macro environment. Many presentations touched on the pain-points investors are currently dealing with. In general, companies painted a confident picture for the future.