Are investors doomed?

Bearish sentiment is rife in the equity markets. And there are plenty of good reasons for that. But the biggest risk of all may be of a bond market crash. Max King explains why.

Trader on the New York Stock Exchange
US equity valuations are at or close to bubble levels
(Image credit: © Jeenah Moon/Getty Images)

A recent headline in The Telegraph which read “the market crash is coming” encapsulated the prevailing view of the commentariat about the investment outlook.

Of course, gloom is far from an unusual stance for market watchers, who recognise that bad news catches the eye of readers more easily than good news and that pessimism is widely regarded as the hallmark of a higher intellect, even though it is usually wrong.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.