Wall Street 2023 och Stockholm
Almost no one thought 2023 would be a blockbuster year for stocks. They could hardly have been more wrong.
A mania surrounding artificial intelligence and big technology stocks sent the Nasdaq Composite soaring 44%.
It is a far cry from the doom and gloom many were bracing for at the start of 2023.
WSJ 29 December 2023
Nasdaq Set For Best Year Since 1999
Bonds set for best two-month rally on record; dollar weakens
Global equities poised for highest level since February 2022
Bloomberg 27 December 2023
It is good practice to learn from your mistakes, but even better is to learn from other people’s mistakes.
My biggest error in 2023 was the same as everyone else’s: being in the consensus that the fastest rate hikes in 40 years would cause a recession.
I thought it unlikely that the nascent stock rally would continue, because it was a bet on inflation’s coming down without the economy being hit. How likely is that? Not very. Except that it happened.
James Mackintosh 29 December 2023
The issue for stock bulls is valuation after a decade-long expansion
Going by its cyclically adjusted price-earnings ratio, which smooths out variations in earnings by using a 10-year average of trailing income, the S&P 500 is priced above 30 times profits, among the higher readings on record.
Bloomberg 29 December 2023
Efter fastighetsoro, bankfrossa, makroyra och ett förlösande höstrally avslutar Stockholmsbörsen året i tjurmarknad.
DI 29 december 2023
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