Not necessarily. It depends on what about 2014 you think will be average.
If what’s average is the market’s overall return, then yes: The stock market’s gain over the last century has indeed averaged about 10% per year. That would translate into an S&P 500 SPX -0.11% above 1,950 at the end of 2014.
Yet a far different picture emerges if what’s average about 2014 is earnings growth and the market’s price/earnings ratio.
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