WBIL - Good News Bad News And Walls Of Worry
By Erik Knutzen, Chief Investment Officer - Multi-Asset Class
For investors, the mature part of this cycle may feel like the rest of the cycle writ large.
The MSCI All Country World Index is up some 250% since the financial crisis. But was there ever a cycle in which investors were more skeptical about the market's upward momentum, where stock valuations had to climb so many "walls of worry"?
The wall of worry is associated with a maturing cycle, when there is potential upside still to be had in stocks, but cracks in underlying fundamentals