Investors Were Confident Heading Into 2025. That Was a Bad Sign.
1. Investor confidence often indicates potential poor market returns. 2. Historically low sentiment leads to high S&P 500 returns. 3. Last year had high sentiment but low future return expectations. 4. U.S. stock confidence peaked, yet non-U.S. stocks outperformed. 5. Current optimism may lead to underwhelming future performance.