People like to predict the future. It’s certainly a good way to end up looking foolish. How many of us, a year ago, thought the world would look like it does now? I won’t bore you with a longer list of expert prognostications that were way off the mark. We all know them.

But supposing the future will be a low-growth/no-growth world:

People will still need goods and services.
Firms will still need investment capital.
Equity investors will still be compensated for accepting a risk premium.
A higher percentage of total return will be from dividends.
Business risk will be mitigated by diversification among investments.
Oldsters won’t want to run out of money during their lifetimes.
Inflation is liable to show up unexpectedly.

Also, the picture used in this story is kind of ...... well, you know.

Regards,
Alan Underdown