Page 11 - FWP Wealth Adviser newsletter - June 2025: Issue112

ISSUE 112
MAY 2025

diversifying across geographies, themes, and asset classes, exceptionalism
and by focusing on quality and resilience, investors can nav- 3. Mapping Future US Market Returns. Firstlinks. (2025). https://www.
igate uncertainty and preserve wealth in a changing world. firstlinks.com.au/mapping-future-us-market-returns
In the end, the spirit of Buffett endures-not in blind opti- 4. The Case For and Against US Stock Market Exceptionalism. Firstlinks.
mism, but in disciplined, adaptive thinking. As he famously (2025). https://www.firstlinks.com.au/the-case-for-and-against-us-
said, “The future is never clear; you pay a very high price in stock-market-exceptionalism
the stock market for a cheery consensus.” The challenge for 5. Dalio, R. (2018). Principles for Navigating Big Debt Crises. Bridgewater
today’s investors is to embrace that uncertainty, and to build Associates. https://www.principles.com/big-debt-crises/
portfolios that can weather whatever comes next. 6. Shiller, R. J. (2000). Irrational Exuberance. Princeton University Press.
7. Siegel, J. J. (2022). Stocks for the Long Run: The Definitive Guide to
Financial Market Returns & Long-Term Investment Strategies (6th ed.).
References McGraw-Hill Education.
1. Does Buffett’s Farewell Represent Peak America? Firstlinks. (2025). 8. MSCI. (2025). MSCI World ex USA Index. https://www.msci.com/
https://www.firstlinks.com.au/does-buffetts-farewell-represent-peak- documents/10199/178e6643-1c6b-4c1c-bc8b-4a3e5c6e8e3c
america 9. Bridgewater Associates. (2023). All Weather Portfolio Principles.
2. New Capital Cycle is Driving US Exceptionalism. Firstlinks. (2025). https://www.bridgewater.com/research-and-insights/all-weather
https://www.firstlinks.com.au/new-capital-cycle-is-driving-us-

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