Monday, December 21, 2020

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Hope is an investment strategy

In recent weeks, Wall Street analysts have been publishing their expectations for the year ahead.

But unlike outlook reports we’ve seen in prior years, every analysts’ forecast this time around is tied to the success of COVID-19 vaccines that were discovered just weeks ago, which were developed to prevent the spread of a virus that became known just months ago.

And so, what’s next for the markets and the economy won’t be informed by history. Market forecasters and investors will be taking a leap of faith.

“We believe the dichotomy between hope and reality will be a key theme throughout 2021,” Piper Sandler’s Craig Johnson said in his 2021 outlook published on Wednesday. “Hope for a swift recovery remains high as the vaccine rolls out around the globe.”

“Hope” is a…

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