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Why not start 2025 with more balanced advice about the economy and financial markets? Most of our competitors have been too bearish or not bullish enough. We were among the only forecasters who predicted no recession over the past three years. We also predicted that inflation would fall sharply since the summer of 2022. We called the start of the current bull market in October 2022. At the beginning of this year and last year, we were ahead of the pack too and raised our S&P 500 targets along the way, which kept us in the lead (chart).
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