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People do not realise how bad things are worldwide. This is a...

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    People do not realise how bad things are worldwide.

    This is a note from Morningstar.

    Not since Nixon

    US equity markets closed out the financial year ina rout of historic proportions. Down 21%, the S&P 500 had its worst firsthalf since Nixon. Nowhere was safe, with all sectors down bar energy. Recordspiled up elsewhere too: the worst quarter for the S&P/ASX 200 since March2020, Bitcoin (and copper prices) worst three months since 2011. Optimists notethe S&P 500 rallied sharply through the second half of 1970. Historydoesn’t repeat but some will hope it rhymes.

    A lot of companies have been affected by the turmoil. S&P 500 21% down in a year! Patience will be rewarded IMHO. Things will improve!

 
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