A hallowed media tradition in this season is to provide a neat summation of the 12 months just gone and to ask experts to share their “outlooks” for investment markets in the year ahead. How much faith should you place in these forecasts?
Global equity markets suffered steep declines in the December quarter, marking their worst quarter in about seven years. As volatility increased, media attention focused on US-China trade tensions, signs of slowing global growth and earnings warnings.
Generally speaking, it’s a good thing to have a positive outlook on life, and to be optimistic about the future. It’s better for our health and mental wellbeing for a start. But there are potential pitfalls too. Lisa Bortolotti is Professor of Philosophy at the University of Birmingham and an authority on the dangers of overoptimism and overconfidence
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