Podcast

The 3D Report: Q4 2022 recap—We won’t get fooled again

Ryan Caldwell and Lara Rhame reflect on the events of 2022, and how they’ll continue to impact the financial markets in the new year.

Listen on Spotify Listen on Apple
February 7, 2023 | 44 minute read

About this episode

In the latest episode of the 3D Report, FS Chiron Funds CIO Ryan Caldwell is joined by Chief U.S. Economist Lara Rhame to reflect on the events from 2022, which will likely continue to shape the global financial markets in the new year.

Transcript excerpt:

Ryan Caldwell (00:01):
This is the 3D report, a podcast from FS Investments and Chiron. I’m your host, Ryan Caldwell. I mean, this is amazing. I’m in studio with the infamous Lara Rhame. Like, we’re actually in the same spot.

Lara Rhame (00:32):
It’s going to be even better. Yeah. Our podcasts are already great.

Ryan Caldwell (00:36):
How can you not do anything but get more animated? So, it’s going be great. Happy New Year, by the way. I haven’t even said Happy New Year.

Lara Rhame (00:53):
And we can say goodbye to 2022.

Ryan Caldwell (00:55):
Yes, which is good. That’s probably where we ought to start. Yeah. Actually like saying goodbye to 2022. I mean, I do actually think like that’s a reasonable jump-off point, right? Like, one of the things that I know our listeners have been hearing us banter about and like when we peel off and talk about business cycles is how bizarre this one was, is. I shouldn’t say was, we’re still dealing with it, and Lara, like we’ve talked about this a little bit. Like the compression of this whole thing is maddening.

Lara Rhame (01:25):
Yeah. It’s going so fast. Policy’s going so fast. Inflation obviously, the number one topic was just, just ramped up so quickly from everywhere. And now obviously it seems like it’s just plummeting as fast as it rose, which is, I know something we’re gonna talk about. But from a business cycle point of view, you know, the housing market, you know, you’ve just had these core parts of the economy, the ramping up of hiring, and now the ramping down. All of these things just moved at lightning speed. I can’t remember a business cycle where we achieved employment prior, you know, back to the pre-prior cycle low in, you know, record time. Yeah. In less than a year, which is an extraordinary. So, it’s just everything has just been on fast forward. It’s really extraordinary.

This information is educational in nature and does not constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. FS Investments is not adopting, making a recommendation for or endorsing any investment strategy or particular security. All views, opinions and positions expressed herein are that of the author and do not necessarily reflect the views, opinions or positions of FS Investments. All opinions are subject to change without notice, and you should always obtain current information and perform due diligence before participating in any investment. FS Investments does not provide legal or tax advice and the information herein should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact any investment result. FS Investments cannot guarantee that the information herein is accurate, complete, or timely. FS Investments makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.

Any projections, forecasts and estimates contained herein are based upon certain assumptions that the author considers reasonable. Projections are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. The inclusion of projections herein should not be regarded as a representation or guarantee regarding the reliability, accuracy or completeness of the information contained herein, and neither FS Investments nor the author are under any obligation to update or keep current such information.

All investing is subject to risk, including the possible loss of the money you invest.

Ryan Caldwell

Managing Director, FS Investments

Search our site