Strong gains in equity markets during 2013 left shares vunerable to correction, which we saw in January.
In the attached article, "Crowds," Shane Oliver discusses the impact of Investor behaviour on returns and presents some interesting charts indicating sentiment toward shares is nowhere near the euphoria typically seen at market tops.
This, of course, is good news for equity investors and supports the view that despite the likelyhood of more volatile and constrained returns, shares are expected to push higher during 2014.
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