A year ago we called 2021, “the year everything went right.” We discussed how all forces aligned to drive the stock market higher. The primary driver was $5 Trillion in stimulus from the government combined with another $5 Trillion of money poured into the Wall
If we were to cover all of the various things which moved the market this year—why they happened, what it means for the future, where we see things going, this newsletter could be dozens of pages. Instead, this chart sums it up. Stocks and bonds are
After stocks posted a strong performance in 2021, the Wall Street experts warned investors to temper their expectations. The rosiest predictions had stocks posting only an average return around 7-9%. Surprisingly two firms actually predicted stocks would fall a bit. All firms were worried about the
For most of the year the focus has been on the Russian invasion of Ukraine (rightly so). This may have caused some big swings in the stock market, but this focus has hidden the real risk to the nearly 2-year stock market rally. In
This is the time of year where we will see a plethora of summaries about the past year along with predictions on what we should expect in the year ahead. SEM has always taken the stance that these exercises serve little purpose and typically do
