“In terms of volatility in the market, there’s still a lot of uncertainty not just related to what the Fed may or not do. There’s a lot going on overseas with geopolitical risk. Issuers may be concerned about that as well.”

 “There is an emerging confidence in the market around the sectors and credits which are better positioned to deal with higher-for-longer, because investors now have 18 months of performance data within a generationally high rate environment to work with.”

 “Buffett has built an extraordinary track record of investing and he has laid down through his communications clear principles and guidelines that have guided generations of investors. It is a huge responsibility of how that will be taken forward and it is very important for investors to understand.”

 “They are probably going to have to do that sit-down with CNBC anchor Becky Quick once a year and talk about their investment philosophy just so people get comfortable... Buffett has always been generous with his time . . . and they’ll need to pick up where he leaves off.”

 “Specific to dividend trends, we expect that the gradual shift by the Fed toward a less restrictive rate policy will result in investors diversifying their sources income, including dividends... Higher rates, and the market experience in 2022, has many investors favoring companies whose capital expenditures have a clear read-through to nearer-term cash flows.”

 “In the past, markets may have taken this as a negative as it could have been viewed as sign of decelerating growth prospects.”