This year, it may be wise to avoid mirrors.
With few exceptions, 2024 members Baron The Roundtable expects the stock market to disappoint, with the index generating returns of -5% to plus -5% for the full year. No, they don’t see a devastating recession, and yes, they expect the Fed to cut interest rates at some point during the year. Their main concern is that the stocks are so highly valued, which doesn’t leave much margin for error.
Those with a more optimistic view cite huge capital investments across the economy, which hold the promise of new Technologies such as artificial intelligence, and investors’ initial emotion toward the less than impressive 493. These 11 money managers and market experts, both bullish and bearish, got over it on January 8 in New York, at an all-day gossip fest hosted by Baron. They also shared their best investment bets for the new year.