At the start of a new year, I like to write an investment outlook for the year ahead as well as glance back at the year that has passed.
Summary of 2024This time last year, the average prediction from the most well-known investment banks was for the S&P 500 to rise just 2.55% during 2024, to 4820. The more pessimistic investment bank, JP Morgan, predicted that the S&P 500 would fall as much as 10% during 2024. The chart below shows the performance in local currency terms of key stock market indices during 2024 and at the time of writing (19th December) the S&P 500 sits at 5900, having risen over 23%. This underscores, once again, the limitations of relying solely on professional predictions of where stock markets might head in the future. In the end 2024 turned out to be a stellar year for equity investors despite some pessimism at the start of the year.
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