The Business Times
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Kenneth Gan

THE WRITER IS A CANDIDATE IN THE CFA PROGRAMME AND HAS PASSED THE LEVEL I EXAM. HE IS PART OF THE INVESTMENT SOLUTIONS TEAM AT PHILLIPCAPITAL

The lesson is not that history repeats itself perfectly, but instead that it provides a “yardstick” to measure the trends of today.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Understand the markets’ pattern, rather than fixate on a ‘magic number’

2026-08-11T08:03:41.000Z
While the theoretical S&P 500 grew US$1 into US$333 between 1926 and 1986, a realistic mutual fund return for that same period would have been only US$137.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Your portfolio isn’t a century-old magical compounding machine

2026-03-13T23:00:00.000Z
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