Back in 1965, Martha and the Vandellas sang “Nowhere to run, baby, nowhere to hide”.
That was true as well in 2018, at least in the world of investing. The graphic below, from visualcapitalist.com, shows just how tough the investing environment of 2018 was.
Bonds were flat, the US dollar was modestly higher…and that was it. Non-US stocks fared much worse than US stocks, and the near-universal prediction that Emerging Markets would be the best bet for 2018 was a complete bust as Emerging Markets were the worst of worldwide equity indexes.
