Endowments & Foundations
A Decade Past, the Decade to Come
The last decade has seen U.S. stocks significantly outperform non-U.S. stocks, large caps outperform small caps, and growth strongly outperform value. And while the dominance of these trends has been unrelenting, we have already begun to see the last decade’s major market trends starting to reverse. In this post, we look back on the last 10 years and consider what to expect as investors over the next 10. With an understanding that markets move in long cycles, our research leads us to tilt in contrarian ways toward what has not worked since the market’s recovery from the 2008 financial crisis.
