We aren’t even two months into 2024 and the S&P 500 is already at or higher than ALL of the Wall Street predictions for the year.
Of course, the year is not done yet. We could still go way down from here and end up -11% for the year and JP Morgan might be right, or we could stay flat from here and Goldman and Citi would be right. Who knows.
We made a post a couple months ago showing how off all the “experts” were with their predictions for 2023. No one thought the market would be up 26% in 2023. It was yet another reminder that no one knows the future.
For this post, we went back to December 2023 and looked at all the predictions for the year ahead. As they were making these predictions, I don’t think any one would have guessed it would take only two months for the S&P 500 to be at the even the most bullish full year targets.
This is not a knock on any of these banks. It’s the reality that NO ONE can predict the future. If the big financial institutions with every resource at their fingertips can’t accurately predict what the market will do, your cousin who day trades definitely can’t either.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Vivi & Shane
