The Next Financial Crisis Will Be Nastier

Of all characteristics that made the 2007-2008 financial crisis unique, one stands out: The simultaneous decline of almost every asset category. US stocks dropped 37 percent, German stocks 42 percent, and Chinese stocks 62 percent; commodities dropped 37 percent (with oil and copper dropping 54 percent). This means that investors had nowhere to hide, taking multiple hits across their portfolios.