During the recession we were told that the days of 10%+ YoY returns in the market were over and that we could expect to live in a world with 3%–5% from here on out. The market meanwhile has gone up fivefold in the interceding 12 years, or roughly a 15% annual return.
All along the way have been the doomsayers insisting that the market will crash, that it feels like 2000 all over again, that Trump, or COVID, or Biden will destroy the stock market, that being at all-time-highs, having an unprecedented CAPE ratio, or quantitative easing is going to send things tumbling… and yet here we are. Sure, the crash will come at some point, but given the thousands of failed predictions I’ve seen in the past twenty years I have zero faith in anyone’s individual ability to correctly guess when it will happen.