2021 is going to be difficult

An expert has warned this year will be a tough one for share investors.

According to Forager Funds chief investment officer Steve Johnson, share markets have now gone too far ahead of economic recovery from COVID-19.

“I think it’s going to be a difficult year,” he said on a Forager video.

“People need to expect those returns from equities to be lower than they’ve been historically from today’s pricing level. That makes it more difficult.”

The major dark cloud in 2021, according to Johnson, is interest rates heading up in response to a steep economic recovery out of the current recession.

“If we’re ever going to see pressure on interest rates going up and inflation, it’s going to be over the course of the next…