TLWM Annual Outlook – 2021
2020 has been filled with remarkable challenges as the global pandemic has upended life in ways that were unimaginable a year ago. Those challenges arrived suddenly with the economy’s abrupt shutdown, subsequent recession, and bear market in stocks during the 1st half of the year. The pandemic’s impact is likely to be felt for years to come as it has changed the way we live, work, and communicate.
As we look toward 2021, we believe that there is light at the end of the tunnel demonstrated by the substantial economic improvement in the 2nd half of this year, along with promising developments in treatments for COVID-19 and the arrival of much anticipated vaccines. Investors appear to believe that the future is bright as the unprecedented drop in stocks at the beginning of this year has reversed and stocks have made an incredible move higher since the lows in March, with the S&P 500 up roughly 13% for the year (through Dec 11th). (YCharts)