The outperformance of U.S. compared to international equities seen over the last decade is unlikely to continue over the next. A globally diversified equity allocation is more likely to be rewarded in coming years than an all-U.S. or all-international equity allocation.
The COVID-19 pandemic has produced the most pronounced economic shock in nearly a century. What might 2021 hold for global financial markets? In this summary of our annual economic and investment outlook, Joe Davis, Vanguard's global chief economist and the global head of Vanguard Investment Strategy Group, outlines expectations for the year ahead.
Outperforming traditional active equity managers and equity factors have frequent periods of underperformance, some of which are long in duration and large in magnitude. Investors who understand this are more able to maintain the patience they need to reach their goals.
27 Oct 2020
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