Money losing investments - guaranteed!

Beginning of trade wars could trigger a strong headwind

Stocks and bonds have performed well for investors over long horizons, writes Vitali Kalesnik, partner and director of research, Europe at Research Affiliates.

Today, however, the vast majority of liquid investment assets are priced to generate close-to-zero real income, and in many instances, are priced to lose money.  New horizons: Which frontier markets could be the winners in 2019? The European Central Bank is targeting a zero interest rate, and Japan's, Sweden's, Switzerland's, and Denmark's central banks are targeting negative interest rates. This translates into more than $11trn of debt globally earning a negative nominal interest rate.  On an unprecedented scale, investors are paying borrowers to borrow, and investors will lose mo...