New Year, New Market Highs
Every day stocks have a positive expected return regardless of whether markets are at an all‑time high or not.
Throughout 2017, the S&P 500 Index recorded 62 new closing highs in 251 days of trading. In the first three weeks of January 2018 alone, the index crossed 10 new record closing highs in 13 days of trading. With stock indices continuing to set new highs, does this mean negative returns for stocks are on the horizon?
Here is this week’s article from Dimensional: New Year, New Market Highs