Mark Northway: Investors' relief must make way for discipline

The peculiar thing about market corrections is that once they are in the rear-view mirror, investors tend to quickly forget about them. Never mind the anxious days, weeks, or even months they experienced while all those around them were losing theirs (to paraphrase Rudyard Kipling). In the happier times that follow a market recovery, most investors would rather spend time looking expectantly to the future than reflecting and trying to learn from the past. 2020 is unlikely to prove an exception, especially since the performance of many major equity indices has recovered or even outpace...