Past returns are not indicative of future returns.
Remember last quarter when I said:
"Global stock markets are at, or very near their all-time highs. From here, stock markets may climb higher or they might correct downwards, I really don’t know."
Well the stock market (TSX) did in fact initially go higher, rising a whopping 5% in the 7 weeks between the last quarterly report dated December 31, 2019, and the recent TSX peak Feb 20, 2020.
In the last quarterly report, I also said:
“Although not a specific prediction, all investors should fully expect that at some point over a thirty-to-forty-year investment career, the stock market will drop at least 20% to 50%, and probably on several occasions! A Bear Market, when it comes, and it ALWAYS comes, should surprise NO ONE!”