"You're Gonna Need a Bigger Boat"
Source: Bloomberg Finance L.P
The US secular bull market, which was confirmed in 2013 for the S&P 500 by the new market highs (which we wrote about here: The Case for S&P 2500), continues and is expanding globally.
The economic excesses that triggered the great recession are largely addressed. This global bull market should be supported by solid economic growth.
Investors are warming to this market and we believe could lead to over 5000 on the S&P by 2023. Upside for international markets is likely greater than for the US, because they are earlier in their economic expansions and just starting to break out to new highs.
The index used in the chart is unmanaged, and not available for direct investment; it includes reinvestment of dividends; it does not reflect management fees or transaction costs: S&P 500 Index is a widely recognized index of market activity based on the aggregate performance of a selected portfolio of publicly traded common stocks.
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