2022 has become one of the most extraordinary year ever. The stock market reached all-time highs as we tallied 6m deaths (condolences to all the bereaved families) and Russia decided to start a war. A further 10m people were forced out of their homes as refugees, while people in sunny Singapore happily go for overseas tours. Some even decide to visit Ukraine to proselytize! (Dear Singaporeans, please don't do that...) It is a sad year and I am sorry to say, I actually only have more bad news. Courtesy of kuanyewism.com and Google Image search There are three key topics in 2022-2023 which we will discuss today and they are all bad:

1. Inflation
2. Bear market and valuations
3. Regime change

We have seen inflation in recent months and we are going to see more inflation like we have never seen before. This is a new experience for...