Developed market equities have had a torrid start to the year and private investors are worried. The metaphor has gone from stock (and cryptocurrency) tips from your taxi drivers to recession predictors from your UBER driver.

Private investors need to remember that there are long-term secular trends that will further influence the flow of capital and investment returns. After being artificially suppressed for many years by policy stimulus, the business cycle of greed and fear that has driven regular periods of boom and bust is returning.