Entire world markets has been propped up by the trillions of...

Entire world markets has been propped up by the trillions of world wide stimulus. The entire world markets to go up the way it took place over last 2 years itself is very unusual. Therefore MSCI indexes looks good for now. Real game is still to start with higher interest rates and inflation etc. If you can grow markets based only on stimulus and deficit budgeting mankind would have done it for centuries. If omicron doesn’t distort the economy activities like when Covid first came, inflation is here higher interest rates are here too. We will see what happens then to all these world markets who has benefited from sugar high. It is not Hamish who has to change, the other side which are the world indexes that will change . Exact timing is difficult to predict.
The other point I like to make is November 21 St James change £14B fund managers with new ones too. Reason given zero rate environment and ESG investments profile promotion.