Goldman's global outlook notes keep coming (following Friday's "Goldman's Complete 2025 Forecast: From Markets To Macro And Everything Else") and this morning the bank's Chief Global Strategist, Peter Oppenehimer, is out with his 2025 outlook for the markets titled "2025 Outlook: The Year of the Alpha Bet" (and available to pro subscribers).
In this traditionally informative piece, he argues that next year will be a stock-pickers markets as continued valuation expansion, like we’ve seen in the past year, is unlikely to continue. Consider how we got here: global equities have risen 65% since October 2022, Nasdaq is up more than 80% and Nvidia up over 1,100%; incidentally that was when we said the market had bottomed as that's when former permabull Marko Kolanovic finally turned bearish, bottom-ticking the market to the day.
Kolanovic turned bearish. Bottom https://t.co/bXVFOHDoRS
— zerohedge (@zerohedge) September 30, 2022
