The extraordinary stock market recovery since the depths of the coronavirus crash has surprised many investors.
Growth companies and technology stars led the way in the rebound, but investors are now asking whether those stocks can repeat that trick or something else will do well in 2021?
One market with the potential to do well in the year ahead lies close to home, says Tom Becket, chief investment officer of Psigma Investment Management on the latest Investing Show: Britain.
He says: â€˜I think next year could be a good year for UK equities, because they probably are the perfect way to play the global reopening trade at a fair price.â€™
Although not outstandingly cheap, â€˜UK equities are much cheaper than global peers,â€™ says Tom.
He adds that a catalyst could be some form of successful conclusion to the â€˜never-ending Brexit sagaâ€™ that removes the stigma of investing in Britain for major global investors.
On this show, Tom, Richard Hunter and Simon Lambert discuss the outlook for British shares over the next year, along with global markets.
The main thing driving markets at the moment is colossal stimulus from central banks, argues Tom, and he says that as long as money remains cheap and flowing, investors are likely to back the reopening of economies if coronavirus measures can be eased.
The trio also discuss where to look for dividends now â€“ and in a show filmed before the announcement that UK banks could pay them again, they are highlighted as an option â€“ and the supposed rotation from growth to value stocks.