Communication Government Risk Analysis Valuation 
Brown Advisory
OCTOBER 11, 2021
These can include aspects like size, time horizon, expertise, financial situation and governance. Muted Expectations Over past decades investors have had to take more risk in order to meet the same return hurdle. This analysis is not intended to be a guarantee of future results. Source: BLOOMBERG.
Brown Advisory
OCTOBER 11, 2021
These can include aspects like size, time horizon, expertise, financial situation and governance. Over past decades investors have had to take more risk in order to meet the same return hurdle. With traditional assets like stocks and bonds at high valuations, the implications for future returns of those assets may be underwhelming.
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