After a great year for equity markets in 2013, investors are looking to next year and wondering whether there will be a "payback" coming, as described in the Schwab Market Perspective.
We expect the US
market to experience a decent pullback at some point during 2014, but
still believe stocks will end the year higher.
Despite the strong
returns in 2013, according to our friends at ISI Research, there have
been 11 years since 1950 that the S&P 500 has posted 25% plus gains,
and with the exception of two recession years, the S&P posted
positive results in the following year.