What goes down, must go up – and in the next year, no less. At the risk of sobering any lingering new year revelry, what if 2023 marks a fifth time unlucky and this isn’t yet the bottom?
What goes down, must go up – and in the next year, no less. At least, that’s a belief that would justify last year’s standing as the second-best year on record for inflows into stock-focused exchange traded funds.
Even as equities endured their worst performance since the 2008 financial crisis with a one-fifth fall for US blue-chips, investors have poured some $US510 billion ($750.3 billion) into equity ETFs, Bank of America data shows. The biggest flows have been directed at the giant index trackers and the passive funds that invest in large-cap stocks that have borne the brunt of last year’s losses.
