Q4 2021 – Annandale Capital Quarterly Commentary

It’s that time of year again when fund managers and Wall Street strategists opine on what lies ahead for the markets and, in turn, how investors should be positioned for the coming year. The forecasts for US stocks range from “muted” to what you might call “cautiously optimistic.” The consensus view on Wall Street is S&P 500 earnings will grow 9.0% next year, but investors will place a heavier discount on those earnings given the likelihood of a more hawkish Fed. The resulting forecast is for modestly positive returns for US equity investors. We have summarized the major bank forecasts as well as our thoughts in this quarter’s commentary. Download Q4 2021 Commentary

This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations. This is not an offer or solicitation with respect to the purchase or sale of any security.

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