2013: a stock picker’s market
The FT’s Tracy Alloway has a chart from Deutsche Bank showing global asset returns so far this year. Equities (the light blue) fill every one of the top 10 slots, lead by the Greek, US, and Japanese indices:
This isn’t necessarily surprising, given various US indices recently hitting nominal highs, Greece seeing a major rebound, and Japan’s massive stimulus. It does, however, drive home the extent to which 2013 was a stock picker’s market, of sorts: if you picked developed economy stocks over pretty much any other asset, you picked well.