Mark Gordon | January 31, 2019
Most investors are happy to put 2018 behind them. To our eye, 2018 provided a dramatic rejoinder to the robust returns of 2017. That year the global equity markets, represented by the MSCI All Country World Index, rose over 20%, with emerging markets soaring over 37%. Last year, however, the equity markets returned some of those gains. Global equities were down about 9.5%. US stocks, represented by the S&P 500 Index, fared better than developed-foreign markets, represented by the MSCI EAFE Index, which went down 4.4% and 13.8%, respectively. Emerging markets fared the worst, dropping 14.6%.
