Rather than provide the standard yearly wrap up, I thought it would be best to address the two most frequent questions I’ve been receiving. First, what was surprising about 2012? Second, what’s the outlook for 2013? Let’s begin with 2012.
To many, the financial markets delivered a surprise in 2012 with the Standard and Poor’s up 15% YTD according to Google Finance. Who would have thought that the headwinds we faced last year of prolonged elevated unemployment, sluggish economic growth, and all the political turmoil would have led to that much market growth?