The Expansion Continues

December 30, 2019

What a year!
As of the close on Friday, the S&P 500 was up 29.2% in 2019. At the end of 2018, we forecasted the S&P would hit 3100 this year. At the time, this was a very aggressive call. Then we doubled down at mid-year, lifting our forecast to 3250. At the end of last week we were only 0.3% away. Two weeks ago we made our case for 3650 by the end of 2020. That may seem overly optimistic to some, but we’re already only 12.7% away…

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