Let’s take a look at the list of all-time highs we’re currently experiencing:
The U.S. stock market has never been higher:
The S&P 500 bottomed in March 2009 at 666. It’s now close to 6,000. The Dow has gone from roughly 6,500 to nearly 44,000.
What an incredible run.
Gold is also at all-time highs:
It’s rare to see stocks and the yellow metal simultaneously taking off like this.
Housing prices are at all-time highs:
The fact that this is happening with mortgage rates at 7% is something else.
All the financial assets are going nuts so it would make sense the U.S. economy has never been bigger:
Household net worth is there too at $155 trillion:
The biggest surprise all-time high to me personally is the Detroit Lions:
I never thought I’d see the day.
We are playing better than anyone in the NFL right now (sorry Chiefs fans but you know it’s true). We have the best offense in the league. We have a boatload of exciting young players. We have a coach who goes balls to the wall.
My only worry is we’re peaking too early.
We should be the favorites in the NFC to reach the Super Bowl.1
Go Lions!
This one is a bit more subjective but it also feels like we’re currently at new all-time highs for hindsight bias following the election.
I’m always amazed at how quickly the narrative machine changes after we know the results. Everyone knows all of the answers when looking at the world through the rearview mirror.
There are a lot of reasons Trump won and Harris lost. This one from John Burn-Murdoch at The Financial Times makes the most sense to me:
Incumbents around the globe lost ground. In fact, it was the first time since WWII that every incumbent party in the developed world lost vote share.
We can debate the rankings of the reasons for this shift — inflation, unpopular policies, Covid hangover, etc. — but it looks like this was a global phenomenon.
The funny thing is no one was making the incumbent point ahead of time but now everyone realizes it makes sense.
Predictions are hard, especially about the future.2
Further Reading:
The New Normal of Negativity
1I reserve the right to delete this entire section if I jinx them by writing this.
2With credit to Yogi Berra.
This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.
The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.
References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.
The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers
Please see disclosures here.
