Managing within the Global Economic Environment
A truly global, risk-managed approach to investing will be increasingly important for superior investment management in our lifetimes. Between 2000 and 2010, US equity markets experienced five declines of 25% or more. Large market declines caused fear and panic. Fear and panic led to chronically bad investment decisions. Wall Street describes this period as the “lost decade” for US equity market returns. The Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite index all were lower at the end of the ten years.