“A colourful illustration, showing best- and worst-performing assets over rolling four-year periods since the mid-1970s.
From this perspective, the recent outperformance of large-cap growth does not look especially unusual in either duration or magnitude. Diverse assets, including commodities and other types of equities, have enjoyed periods of comparable success.
Moreover, the chart reminds us that recent standouts may swiftly become underperformers as conditions change.”
