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PHOTO: 123rf – A growing number of commentators are pointing to the stretched share prices, warning that they can’t continue.
Many New Zealand investors are ill-prepared for a market downturn, and some commentators are worried there could be widespread panic when a correction comes.
Share markets in New Zealand and around the world have had a strong run, since the global financial crisis.
In the 10 years to the end of last year, the NZX has a gross return of 107.8 per cent. The S&P500 in the US was up more than 20 per cent last year alone.
But as the good results continued to roll in, predictions of impending doom have increased.
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