How long can it go on?
‘Irrational exuberance’ was used to describe equity markets in Dec 1996, a full three and a half years before peaking and bursting. The past nine years have seen a staggering compounded annual growth of 17% – exuberance, indeed. We now have overvalued equities, low-yields, low inflation and remarkably low volatility. Where can an investor find protection in such an environment?
Download this white paper to learn about “Crisis Alpha”, the concept that some strategies are able to provide uncorrelated returns in normal markets and positive returns during market crashes.