Fortune Jan. 4, 2022

Stock market

5 reasons why stocks will fare poorly from here

In late November and early December, Wall Street’s market strategists observe a time-honored holiday ritual: predicting where the S&P 500 will finish in the new year. Traditionally, these forecasters mainly form a herd of cockeyed bulls even when fundamentals suggest caution, as when shares show clear signs of being overpriced versus historical benchmarks. Though stocks looked extremely expensive at the close of 2020, most of the banks forecast double-digit gains for last year. J.P. Morgan was most optimistic at

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