U.S. markets have been surprising this year, both for the magnitude of gains and the near absence of volatility. Through Sept 30th, the S&P 500 Index® gained 14%, compared to 20% for foreign stocks (as measured by the EAFE Index) and 28% for Emerging Markets. We have been outsized beneficiaries of several themes we mostly expect to continue into next year.
There is a long-standing practice of assuming that 4% retirement distributions are sustainable throughout retirement. This assumption has been refuted by Nobel Laureate and Stanford professor Bill Sharpe, who said “This rule and its variants finance a constant, non-volatile spending plan using a risky, volatile investment s
How Far Down This Road Can We Go?
We continue to see a positive investment landscape despite many common investor concerns.
Most of this rally can be attributed to three overriding factors:
Data continues to reinforce U.S. strength vs.