The year 2011 started with much optimism. The ASX 200 was hovering around 4745, with most experts suggesting it would end the year in the 5500-5800 range and deliver a 4% dividend.
First mistake. The ASX 200 actually finished the year around 4056, or down 14.5%. It is also worth noting that 2011 was the third negative year out of the past four years.
What went so wrong? The simplest answer is — a lot. Last year probably saw more history-shattering events than any other single year since World War II.
Furthermore, the sheer scale of these events (both their size and number) did not allow much breathing space between hits.
In 2011, they rolled out in rapid-fire succession. We saw revolutions, fighting and...
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