Larry Swedroe: Modera tus expectativas en el mercado
Publicado: Mié Ene 09, 2019 16:19
Interesante artículo de Larry Swedroe en ETF.com en base a un estudio metodológico sobre el rendimiento del S&P 500 entre marzo del 2009 y octubre del 2018. Su conclusión es esta:
¿Quizá es el momento de más RF, preponderar emergentes o buscar alternativas? ¿qué pensáis?The practical lesson here is that the returns the S&P 500 achieved relative to the volatility investors experienced is virtually unparalleled and may not repeat for many decades to come. This result also lends strong support to expectations for very modest returns going forward.
It’s hard to imagine how the S&P 500’s excess returns, or certainly risk-adjusted returns, could be anywhere near as high over the next decade as they had been recently. Wise investors should maintain a globally diversified approach and appreciate that at least some portion of their portfolio benefited from that historically great run for the S&P 500.