Jeremy Siegel: Don't Expect New Stock-Market Highs Anytime Soon

Published on April 14, 2025

Long-term returns look attractive, but investors should buckle up in the meantime, the economist says.

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The Uncertainty Recession

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As with all decisions involving uncertainty, we want to find the answer which maximizes your expected risk-adjusted return, not your base-case or expected return. This means that we have to go beyond the industry standard and explicitly account for risk in our analysis.