2021 Q1: The Rearview Mirror
Global stock markets continued their run of healthy returns to deliver a solid first quarter of 2021 with the U.S stock market up 6.4%, developed international markets up 4% and global real estate up 6.2%.
Notably, smaller value stocks, the kind we emphasize in our portfolio construction, have had an amazing resurgence, gaining 21% in the first quarter and whopping 97% over the last 12 months!
What is also remarkable is to look beyond the quarter to the last full 12 months through 3/31/2021 – stock market returns were extraordinary (See below).
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