A bull market in US equities that has run for more than a decade, and generally low volatility over the years, may give investors the impression the ride will never end.
Market-neutral product to launch soon
Build on US experience on investing, manager argues
There are several signs the US equity market is bifurcating, with pockets of overvaluation and undervaluation becoming extreme.
In the first half of 2019, the uncertainty surrounding Federal Reserve policy and US-China trade negotiations affected the outlook for all asset classes including global small-cap stocks.
The current bull market in US equities began in March 2009. The decade that followed has seen US equities rally by 300%. The early years were dominated by concerns about fiscal and monetary policy on the one hand, and the sub-par growth on the other....
Current US economic expansion now 121 consecutive months
Which funds stole the show?
Cutting costs - and political legacies - dominating the US
And which are the laggards?
Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.
'Markets will need to get used to this'
Beginning of trade wars could trigger a strong headwind
Concentrated portfolio of 75 to 100 positions worldwide
US equities began 2019 with a welcome respite, reversing course from their downward spiral in December 2018.
'A different view on cash'
Experts fear 'tit-for-tat tariffs' could spark financial slump
Markets continue to climb the proverbial wall of worry and the S&P 500 index was back into record-setting mode in April.
In praise of the 'outsiders'
Headwinds expected into Q2
Political risks front and centre of economist's speech
Rethink of asset allocation decisions needed
Having spoken to numerous market participants, we discern a number of areas of current concern.