Week of January 6, 2025
“It is possible to have too much of a good thing” is a quote traced back to the Greek storyteller, Aesop. A nearly universal idiom that applies to everyday things; food, water, and, yes, the stock market. Calendar year total returns for the S&P 500 in 2023 and 2024 were 26.29% and 25.02%, respectively. Those are the highest consecutive returns for the S&P 500 in the 21st century (of which we are now a quarter of the way through). The question becomes, who decides when the stock market has had “too much”? There are no changes to our Signals.
Michael Mullenax, CFP® and Bob Bilkie, CFA
