Hi N,

The last decade spoiled us:

• S&P 500 posted an annualized total return of 13%
• Generated a 233% total return across the same period
• Top companies delivered largely consistent growth

In one forecast among many, Goldman Sachs says the next decade (‘24-’34) will be different:

• Just 3% annualized nominal returns
• Bottom 7th percentile of historical returns since 1930
• A 72% chance of underperforming bonds

The wealthy have seen cycles like this before. It's why they've historically allocated to noncorrelated alternatives for a slice of their portfolio, including blue-chip art - not for aesthetics, but for returns.

Would you like to learn more about artwork like Basquiat, Banksy and Picasso as a portfolio asset? Get started by scheduling a brief meeting to see if art investing is right for you.

Edith Halpert
—

M A S T E R W O R K S

www.masterworks.com
225 Liberty St. 29th Floor, New York, NY 10281