2022 will probably be remembered for being the year of war and inflation, and the end of a decade of “free money” distorting markets. To put it in perspective, a passive 60:40 offshore balanced fund delivered probably its worst performance in US dollars in 100 years, sending a clear message to investors: Things have changed. Allan Gray chief investment officer, Duncan Artus, joins Tamryn Lamb, head of Retail, to unpack why the year was a turning point for markets and trends. They cover everything from AI and energy to cryptos and tech stocks, as they discuss our approach to navigating the risks and taking advantage of the opportunities that lie ahead.