HOW much does the past inform the present and future in terms of investment experience and portfolios?
Academics Paul Marsh, Mike Staunton and Elroy Dimson have published the 2024 edition of the Global Investment Returns Yearbook, which captures more than 100 years of capital market returns.
The latest edition, the first in collaboration with UBS since its merger with Credit Suisse, throws up some trends that have time and again confounded investors, particularly over the past year.
Let’s dive into it.
It perhaps shouldn’t surprise anyone that the US has been by far the most dominant of stock markets over more than a century, only briefly overtaken by Japan in the mid-1990s. As at end-February,...
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