The 500

[Jolly]

Are the best days behind us?

https://www.axios.com/2024/10/22/stock-market-returns-sp-500-future

[Horace]

Yes, but: Maybe the AI revolution will involve winner-take-all effects and such massive capital spending needs that the winners of the last decade will also be the winners of the next decade, propelling the S&P much higher despite historical warning signs.

That was my first thought.

But I don't expect the next 10 years to be equal to the previous 10.