Economic Insights – February 2014
Despite the widespread uncertainty about the economy, one thing is clear: 2013 was the best year for common stocks since 1997. Consider these facts:
- The Dow Jones Industrial Average rose 26.5 percent.
- The S&P 500 was up 29.6 percent.
- The Nasdaq was up 38.3 percent.
In spite of all the talk of a bubble, we still believe the global economy and the stock market are only in the early phases of a long-term upswing. Over the next 20 years, this upswing will ultimately carry the Dow above 75,000 .....