Alle nedture siden 1928 viser, at markedet altid kommer så stærkt igen, at det altid når et tidligere maksimalt niveau, skriver JPMorgan. Skulle der gå 5 år, vil det alligevel give et årligt afkast på 7,9 pct.
Uddrag fra JPMorgan:
Thought of the week
Last week was another roller coaster ride
as investors digested a number of
developments around the monetary and
fiscal policy response to the spread of
COVID-19 and early signs of the turmoil it is
likely to cause the U.S. economy.
While these ugly readings on
the economy are likely to persist for some
time, long-term investors should consider
that since 1928, through 14 recessions and
21 bear markets, equity markets have never
failed to regain a prior peak, and this time
will be no different.
As shown in this week’s
chart, regardless of time, gains achieved
recovering from a bear market are
substantial. Even if it took 5 years to get
back to the new high achieved on Feb. 19,
an investor would reap a 7.9% annual
return from current levels. We are in
unprecedented times, but markets will
rebound, and the rebound will likely be
significant.
