While the investment universe is currently consumed by inflation and interest rates, there are other factors at play which will, arguably, have a far bigger impact on longer term pension and investment returns than the current war between central banks and the CPI.
We had been bullish on stocks all the way back to March 2009, when mark-to market accounting was fixed and the Financial Panic started to recede. At that time the S&P 500 traded as low as 677. What a time to buy! After that we remained bullish. We didn’t recommend selling in spite of a […]