Vanguard CEO Tim Buckley has said that investors will have to settle for lower returns in the future as a nine - year bull run in equities looks likely to end . The world’s second-largest fund manager has warned that the era of super-sized stock market gains is coming to an end. Buckley , recently appointed to be the world 's second - largest fund manager , said valuations had become stretched , adding " if there is a correction , I would n’t be surprised " . A stocks rout in the first week of February dropped 5.2 % from the value of the The Dow Jones Industrial Average .
Vanguard CEO Tim Buckley has said that investors will have to settle for lower returns in the future as a nine - year bull run in equities looks likely to end . Buckley , recently appointed to be the world 's second - largest fund manager , said valuations had become stretched , adding " if there is a correction , I would n’t be surprised " . A stocks rout in the first week of February dropped 5.2 % from the value of the The Dow Jones Industrial Average .