We pinpoint five reasons why U.S. equities capped off a banner year in 2024 and why investors were willing to pay for premium valuations. We also offer thoughts on the environment in 2025 and how to approach portfolio positioning.

The market pullback will take time to play out. Planning for an eventual shift to defense beats a “hope for the best” approach.

A valuation can help you improve operations today, as well as help you prepare for a future sale.