Correction looming?
With the equity bull market continuing to forge ahead, a well-known investment strategist has forecast that a major market correction is still a long way off.
Speaking in the latest Russell Investment Group “Market Barometer” report, Russell investment strategist Andrew Pease found it curious that there was a lack of public excitement over the strong returns of the equity market.
“The doubling of the share market over the past four years has gone largely unnoticed by the general public — the typical late cycle flood of new investors chasing high returns is yet to happen,” he said.
“It’s further evidence that we’re a long way from the speculative excess that occurs prior to a major market correction.”
Pease said real estate, rather than the share market, was a more popular investment choice for Australians, even though housing prices have risen just 13 per cent nationwide over the past three years and have declined 7 per cent in Sydney.
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