Dear investor,

This is the first of what will be a short quarterly update on the markets. If you have any feedback please get in touch (e-mail address below). I might increase the frequency of the commentaries if there is sufficient interest.

Please note that the content of this video is provided for information only and does not constitute individual financial advice. Where investment performance is discussed, past performance is no indication of future performance.

Best Wishes,

Jim Aitkenhead BA(Hons)Econ FCII APFS ACSI

Chartered Financial Planner

jim@ha-w.co.uk

PS. I made a mistake at the end of this item. I said that recessions typically last two years, fortunately, this is incorrect; they typically last two quarters, i.e. six months.