These are dark days for stock pickers. While the world’s most important sharemarket sits at record highs, the conviction and confidence of many professional money managers have never been so low.Beating the market is hard enough at the best of times. But today’s markets feel broken, an endless series of bubbles where momentum is everything, and the fundamental tools that professional investors have long relied on – careful study of a company’s financial position and comparative advantage and a deep understanding of how market cycles work – are simply not as effective as they once were.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Macquarie’s Viktor Shvets reveals how to play bubbly, broken markets
As infuriating as it is for many investors, momentum is almost all that matters in today’s markets. But the star strategist says has a playbook.
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