Commentary
Easy gains in markets are behind us
Outlook for returns over next 12 months remains positive but expected to be lower
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An investor monitoring stock data at a brokerage house in Beijing. Today, many are asking whether there will be a continuation of the bull or a fall into a bear market ahead, but the reality is believed to be far more nuanced, says the writer.
PHOTO: REUTERS
Eli Lee
Investors should never be afraid to challenge conventional wisdom on markets.
This time a year ago, the global stock market had staged a stunning 40 per cent rally from the low of the Covid-19 crash in March.
