Those calling for a bubble, major sell-off, correction coming, 1999 all over again........ might want to consider the underlying profitability of companies in the US market. "Many observers have drawn parallels to the late 1990s, when the gap between US and non-US valuations was similarly wide. Some view this as an omen for future returns—and not a good one given the US market’s infamous “lost decade” starting in 2000. But this comparison may not be apples-to-apples. The weighted average profitability of the US market has surged in recent years, rising from 42% five years ago to 62% as of November 30. That’s a very different backdrop from 1999, when US market profitability declined over the subsequent five years." - Wes Crill, PhD, Dimensional Fund Advisors

meredithwealth.com/post/some… Some Thoughts Heading Into 2025: 1.) Ignore the market experts & forecasts 2.) It's normal for markets to make new all-time highs 3.) Diversification is your buddy

Annuity companies must've read Kahneman & Tversky! The US stock market has delivered an average annual return of around 10% since 1926 so an 11.75% cap doesn't sound bad. Retirees see all the gains without the losses.... Until you see market returns laid out like this...

Props to @RightCapitalHQ on the new equity comp tools. Great visuals to help clients understand the wealth and tax impact of their equity comp plans.