2021 Survey Series - #1 Where are we in the cycle?

1,743 responses

Picture for question What stage of the bull market are we in right now?

What stage of the bull market are we in right now?

1743 out of 1743 answered

Optimism
1k resp.
59.2%
Euphoria
448 resp.
25.7%
Skepticism
183 resp.
10.5%
I'm unsure
56 resp.
3.2%
Pessimism
25 resp.
1.4%

Which asset class are you thinking of increasing your exposure to in the next 12 months?

1743 out of 1743 answered

Aussie Equities
976 resp.
56%
Global Equities
722 resp.
41.4%
Gold
355 resp.
20.4%
Infrastructure
345 resp.
19.8%
Property
280 resp.
16.1%
Cash
269 resp.
15.4%
Cryptocurrencies
198 resp.
11.4%
Private Equity
142 resp.
8.1%
Corporate Bonds
68 resp.
3.9%
Private Debt
61 resp.
3.5%
Government Bonds
33 resp.
1.9%
Other
17 resp.
1%

Will inflation be higher or lower in 12 months?

1743 out of 1743 answered

Higher
1.1k resp.
61.2%
About the same
562 resp.
32.2%
Much higher
76 resp.
4.4%
Not sure
29 resp.
1.7%
Lower
10 resp.
0.6%
Much lower
0 resp.
0%

Value stocks have outperformed growth stocks by 12% since Astra Zeneca announced a successful Covid vaccine in November 2020. Do you think Value stocks will continue to outperform in 2021?

1735 out of 1743 answered

Yes
995 resp.
57.3%
Not sure
416 resp.
24%
No
324 resp.
18.7%

What will be the strongest headwind affecting markets this year?

1743 out of 1743 answered

Geopolitical tension
941 resp.
54%
High valuations
820 resp.
47%
Third wave pandemic / uneven rollout of vaccine
755 resp.
43.3%
Inflation
506 resp.
29%
Sooner than expected lessening of stimulus/QE
326 resp.
18.7%
Other
19 resp.
1.1%

In 2020 the CBOE Volatility Index (VIX) rocketed from 12 to 82. It is now below 20. Where will it be at the end of 2021?

1743 out of 1743 answered

Higher
840 resp.
48.2%
About the same
733 resp.
42.1%
Lower
107 resp.
6.1%
Much higher
57 resp.
3.3%
Much lower
6 resp.
0.3%

Cryptocurrencies, BNPL, Big Tech, residential property among others have all hit record highs in the past year. Which of the list below is a speculative bubble likely to pop in the next 12 months?

1737 out of 1743 answered

Cryptos
1.2k resp.
67.1%
Buy Now Pay Later (BNPL)
902 resp.
51.9%
SPACS
515 resp.
29.6%
Residential Property
392 resp.
22.6%
Big Tech
277 resp.
15.9%
All Equities
162 resp.
9.3%
Bonds
82 resp.
4.7%
Other
16 resp.
0.9%
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