How did investors do in 2018?
by: Alfred Lam, CFA
Senior Vice-President and Chief-Investment Officer, Multi-Asset Management
During any extended stock market rally, a curious thing tends to occur: several close acquaintances –
who aren’t professional investors – enjoy offering me their unsolicited advice on how to make money.
But when markets fall, the same group often panics, demanding to know what they should do. This
mixed bag of behaviour – a combination of overconfidence and anxiety – is common during every
Following a relatively stress-free investment environment in 2017 with low volatility and high returns,
most investors have not made money in 2018. Ned Davis Research divided markets into eight major asset classes – from bonds to U.S. and international stocks, to commodities – and concluded that not a single asset class has generated any meaningful returns in 2018.
Read the rest of Alfred’s comments here >> December 2018