Gregory (Greg) Davis
speaker
72 appearances
1 recordings
1 series
first heard Dec 2021
last heard Dec 2021
Gregory (Greg) Davis’s voice in public audio — every appearance, attributed to the second.
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If you go back and you look at the historical returns for the equity markets being in the 9% to 10% range and on a year-to-date basis, or if you look at the last year, we've seen a return of over 24%.
It's very unlikely that you're going to see the same type of returns going into the future.
It's a pleasure.
Great to be here with you.
That's a great question, JR.
The primary reason is there's been an unprecedented amount of fiscal as well as monetary policy stimulus that has entered into the markets and to the economy.
So the fact that the Federal Reserve has been so accommodative, the fact that they've ultimately reduced interest rates to zero, went through the whole process of quantitative easing, which they are now starting to scale back, as well as the tremendous amount of fiscal stimulus that actually came across from Congress
were two of the main drivers of why the markets rebounded so quickly during the height of the pandemic.
So again, the fact that you had the stimulus, you had easy monetary conditions, those were all big catalysts to help return the equity markets and the broader markets to a very positive footing.
You know, we tend not to look at individual years when it comes to, you know, our forecast for equity market returns or bond market returns.
The reality is that we saw this outsized return.
And if you go back and you look at the historical returns for the equity markets being in a 9% to 10% range and on a year-to-date basis, or if you look at the last year, we've seen a return of over 24%.
It's very unlikely that you're going to see the same type of returns going into the future.
So what we try to always caution our investors is that, you know, take a very long-term focus when it comes to investing.
Make sure that you have the right, you know, risk profile in your portfolio.
Because, again, when we think about equity market returns over the next decade, we do expect them to be muted relative to the history, just given the fact that we've had such outsized gains over the last 10 years or so.
And so investors really need to have more moderate expectations for equity market returns going forward.
There are a few headwinds.
Number one, it's the Omicron variant is clearly causing some pause in the markets and how people function day to day.
So that's one.
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