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“We should not look back unless it is to derive useful lessons from past errors, and for the purpose of profiting by dearly bought experience.” – George Washington

Below is a snippet of commentary from today’s Morning Lineup.  Start a two-week trial to Bespoke Premium to view the full report.  

The S&P and Nasdaq are both set to open at all-time highs this morning, but most notable is Japan’s Nikkei 225, which finally made a new all-time high after 34+ years!

After the Great Depression in the US, the S&P went 25 years without making a new all-time high, and Japan’s equity market beat that streak by nearly 10 years.  As shown below, once the S&P finally did make that all-time high in the mid-1950s, it would go on to double in rather short order.

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