Earlier in January, Morningstar published an article by Larry Swedroe titled "12 Lessons the Markets Taught Investors in 2023". While the entire article is worth reading, the one feature that stuck out to us the most was the chart showing a comparison between expert Wall Street strategist projections at the beginning of the year and how the S&P 500 performed. Over the 6 years covered in the dataset, each median set of predictions was grossly off what actually happened in the markets.
To us, this is just another reminder that market predictions (TV, Newspaper, Magazine, Social Media, etc.) are just noise and do not hold significant value. Instead, we should continue to focus on building a well-diversified portfolio with the appropriate risk level for each of our clients.