It’s time for a review of 2018, and I have to say that I managed to protect my capital (which is great and am fortunate) but I did not capitalise aggressively on opportunities that I was aware of.

But for both Wall Street and Main Street and for investors who have to be invested from the long side, it’s generally a really tough year as every major asset class recorded negative year-to-date performance:

In fact, every major investible asset class in the public markets failed to outperform inflation rates this year, with the median return of major asset classes one of the lowest since the 1980s – à la Ned Davis Research:

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It’s as if the entire of 2018 was a mockery