Since WWII, the S&P 500 has compounded annually at an average rate of 11%. In both the 80s and the 90s, stocks soared, gaining an average 18% per annum. But the following decade produced losses in the face of two severe bear markets, the dotcom bust and the financial meltdown of 2008.

Q&A to follow presentation.

Andrew began investing in global stock markets in 1988 and was based in Tokyo in the early 1990s, as the Japanese bubble burst. He ran the macro investments for hedge fund Omega Advisors before founding Waterville Valley-based Washington Peak Investment Advisors in 2017.