Michael Murray: Beware the frightful spectres of Trump, inflation and populism

Michael Murray: Beware the frightful spectres of Trump, inflation and populism
Traders on the floor of the New York Stock Exchange: equity markets face some big challenges in the coming years Picture: Bloomberg

Despite benign economic fundamentals nationally and bright earnings prospects, there is no shortage of risk ahead which, if crystallised, could see a sharp correction in stock markets

Nothing stands still. Equity investors who dipped into the Irish market in spring 2009, when the Iseq index hit a low of 2,000 after peaking close to 10,000 two years earlier, are unlikely to see a repeat of that catastrophe any time soon. Equally, most will be lucky to recover their losses from that period. But those brave enough to go into the market anywhere close to the 2009 nadir will likely have seen their portfolios more than double, even treble, since then. The Iseq index is up from the nadir to over 6,000.

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