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What worked over the past two years may not work in the next one. Periods of outsize returns are followed by market declines, sooner or later.
PHOTO: REUTERS
Jeff Sommer
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Financial markets have been choppy since the November US election, and for good reason. With the next presidential administration promising sharp policy changes on a broad range of economic issues, there is plenty to be nervous about.
The new proposals are dizzying. The President-elect says he wants to deport millions of immigrants; impose tariffs on all countries, especially China; slash taxes; expand the use of cryptocurrency; eliminate wind-powered electric generation; and increase production of fossil fuels.
