If you thought the last decade was a misery for shareholders, just wait for the next one.
That is the message, perhaps exaggerated a little for effect, from some multi-asset allocators. They warn global equities could end the next decade close to where they began it, mirroring the ‘lost decade’ those of us who held faith with shares just endured. Despite this, they are urging us not to give up, but to alter our approach a little. Favouring EMs could bear fruit, looking for managers who can short, and diversification is crucial, they say. Global shares fell 17% in the past 10 years in sterling terms, and are up only 10% over five years. Nevertheless, private inves...
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