Interview re-printed with permission from Trusted Insight.Brian Collett is the chief investment officer of Missouri Local Government Employees Retirement System (MOLAGERS), a $7.5 billion system. Under his leadership, Missouri LAGERS performed among the top in the public fund universe, returning 9.45 percent annualized net of fees for the last five years.
To many, the market turmoil that hit stocks globally last week came out of nowhere. In the US, after almost two years of the stock market grinding its way higher, seemingly in defiance of gravity, the over 5% fall last week reminded us that what goes up must come down. In truth, we’ve been living in an investing world which isn’t normal. Falls in the market like the one experienced this February however, are entirely normal, and often healthy, for markets to experience.