How did investors do in 2018?

By Alfred Lam, CFA

During any extended stock market rally, a curious thing tends to occur: several close acquaintances – who aren’t professional investors – enjoy offering me their unsolicited advice on how to make money. But when markets fall, the same group often panics, demanding to know what they should do. This mixed bag of behaviour – a combination of overconfidence and anxiety – is common during every business cycle.

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