Are we really in a bull market? And given the pretty lacklustre year that equity markets have had in 2018, are we poised for a crash? This was the substance of an email I received last week from a fellow subscriber and because a good answer required a fair bit of analysis, I promised to turn it into my piece for today.
To put you entirely in the picture, this was Sandy’s email, tidied up by my sub-editor, no doubt.
“Peter, why do commentators like Alan Kohler in The Australian, for example, continually talk of a bull market? The ASX has performed quite modestly over the last 10 years, never getting near pre-GFC highs. So I must be missing something.
Another thing, with the world appearing to be reasonably stable, with few real or new crisis etc., almost all world indices are down on a year-to-date basis. Why?