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We recently read an interesting quote: “It is considered doubtful if there ever has been an industry in the history of this country which has had such phenomenal growth.”
Vladimir Lenin once said, “There are decades where nothing happens; and there are weeks where decades happen”. Over the past ninety days, it has certainly felt like decades have happened.
Early this year, the term “American Exceptionalism” was widely referred to by the media and was credited for the continued outperformance of the US stock market as compared to the rest of the world.
The US economy continues to remain strong. In September, the US economy added 254,000 jobs – much more than the 150,000 expected.
In the US, much of the year-to-date gains have been concentrated in a handful of companies. Six stocks have accounted for 60% of the gains throughout the first half of the year.
In the recently released federal budget, the government proposed to increase capital gains taxes in some cases
During the last few months of 2023, financial markets performed very well because of the expectations that interest rate cuts would soon be upon us.
