As the global economy begins to reopen we will discover what the new post-COVID-19 “normal” looks like. The next phase of the recovery may prove to be a paradigm shift: a move into a world of “completely different” macro and market relationships to those which we have been accustomed to in recent years. In this Market Know-How we explore how some of those factors may shape the investment landscape.
The reason such secular growth themes drive superior outcomes for equity investors is because, over the long run, equity returns are driven by earnings. Multiples and currencies may influence outcomes over shorter periods, but being on the right side of growth and disruption is a critical driver of success over time.ÃÂ