PremiumGoldman Trader's Final Take On 2024
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The new year has barely started and Goldman's head of hedge fund coverage, Tony Pasquariello has already published his first note of the year, one laying out a brief set of "short observations" - all 18 of them - on the past year, as well as a check-down of the scoreboard, and a few charts.
We excerpt from the full note below (available to pro subscribers in the usual place):
1. While not without some challenging moments, 2024 was a terrific year for US equities (I debated the word choice here -- particularly given a soft finish in December -- but one can argue a doubling of the long-term average annual return qualifies as “terrific”). For the major indices, these are total returns and Sharpe ratios (ranked by the latter): S&P +25% / 2.0 ... NDX +26% / 1.4 ... INDU +15% / 1.3 ... SPW +13% / 1.1 ... MID +14% / 0.9 ... RTY +12% / 0.6.