, Columnist
No, Markets Aren't Revisiting 2008
Valuations already reflect everybody's worries.
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Yes, markets have beaten up everyone so far this year. Investors are looking for answers and struggling to identify a culprit -- just read the headlines. According to my Bloomberg colleagues, some observers are even beginning to wonder whether a repeat of the nightmarish 2008 meltdown is underway.
All of this sudden soul-searching is odd. Overseas markets have been in turmoil for much of the last two years. The MSCI EAFE Index returned a negative 4.5 percent to investors in 2014 and a negative 0.4 percent in 2015. The MSCI Emerging Markets Index returned a negative 1.8 percent and a negative 14.6 percent, respectively, over the same period.