One of the annoyances of writing a column is my dastardly editors will not let me plaster lovely big graphs all over this page, which is a shame because I have two graphs I would love to share with you.
The first shows long-term equity returns and is borrowed from professor Paul Marsh and Elroy Dimson’s yearbooks, researched by the London Business School and published by Credit Suisse – this graph shows a smooth trend line with equities constantly rising since the dawn of civilised time. The other is of US treasury bond yields from 1987 through to today. Another nice smooth trend line, this time heading in the opposite direction, downwards. I love these two graphs because they speak of the great investment narratives of our time – equities for the long term and the recent remorseless...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
