I’m sure the question has crossed your mind in weeks past: is this it? The moment when we’ll all look back next year, and the years after and say: hey, that was when the 2012 bull market started!
Bell Potter's managing director of wholesale, Charlie Aitken, certainly thinks this is the case. So does Morningstar's old hand Ian Huntley. Clifford Bennett, nowadays of White Crane Group, has been screaming, “bull! bull!” from the top of his lungs ever since global equity markets started rising in March 2009.
The rhyme of history
But before we look into the merits of these predictions, let me take you all back to my favourite reference for what we’re experiencing today: the sixties and seventies. Not that history can provide us with all the answers about the future (it can’t), but it does provide us with a framework, and with some ideas about what’s possibly happening now. To quote Mark Twain: “History doesn't repeat itself, but it does rhyme”.