One job I’ve always had the intestinal fortitude to have a crack at is predicting where the overall stock market is heading. As a consequence, at least once a year, my colleagues ask me to make my latest call.
Some 24 months ago, I argued that the 7000 mark for the S&P/ASX 200 index was a genuine chance. But that was before the Turnbull Government gave in to Bill Shorten and called for a Royal Commission into our financial sector in November 2017. That hurt the Index’s growth, given that finance businesses are responsible for some 32% of that Index.
That curve ball to strike out my 7000 call was followed by an even more challenging one from an even bigger pitcher than Malcolm, in the shape of US President Donald Trump, who started his tariffs on China campaign in March of 2018.