MarketsEquity MarketsInvestingPrint articleOpinionFrom the ASX's lofty peaks, the gains look smallerIf the year just gone was a 1995 mid-cycle slowdown scenario, several more years of strong returns may be on the cards. But high starting multiples suggest far less favourable markets.Aaron BinstedJan 13, 2020 – 3.03pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginThe Australian S&P/ASX 200 Index delivered a healthy 23 per cent total return in 2019 surprising many investors.It is worth remembering that in late 2018 concerns about US interest rate hikes and slowing economic growth led to markets selling off aggressively.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreInvestingOpinionSharesStock pickingLatest In Equity marketsFetching latest articlesMost Viewed In MarketsThe Australian Financial Review MagazineAFR Magazine celebrates The Art of MovementLauren Sams‘We don’t want to die wondering’: Jo Horgan on Mecca’s biggest bet yetThis Brisbane restaurant deserves a Michelin starBOSS Financial ReviewThis CEO thought he was healthy. Then he went for a checkSally Patten and Lap PhanHow the Macquarie CEO played a role in setting me up to lead MagellanWhich AI course should I do?Life & LeisureWhy we can’t get enough of the minister of crabsPaul BestIt’s BYO pyjamas at this chef’s table above the cloudsIs awamori Japan’s most underrated spirit?Rich ListSpotlight’s new Anaconda will teach shoppers to fishMichael BlebyPortelli hits fast lane on mooted LMCT+ sale, MacCap takes the wheelInside the fortune Kerry Stokes (quietly) made in China