Singapore, Dec. 8 -- We are now in the 11th year of an American bull market. It is the longest on record, and two times the average historical trend in terms of magnitude and duration.
But, I dare say, it is also the most unloved bull market.
There has been persistent doubt that we would see a positive return for risk assets this year, let alone a stellar performance. Understandably so - we have been confronted with widespread fears of a global recession, sparked by the growing trade war, softness in manufacturing data, and the inversion of the yield curve.
But, over the course of the year, global stocks gained 23 per cent led by the United States, which gained 27 per cent, while global bonds gained 6 per cent. MANY INVESTORS HAVE MIS...