"If Not U.S., Then Where?"
Many questions abound as we embark on another year of investing. Ranging from geopolitics and good ol' politics to micro and macro economics, the range of potential outcomes has rarely ever seemed to be as wide as it is in 2024.
One outcome that seems to be indelibly linked to so many others is the performance of the U.S. equity market relative to the rest of the world (Figure 1). Whether we're using the S&P 500 (left) or the more tech/growth centric Nasdaq. . .
