Goldman Sachs reminds us that the next decade of stock market returns is hard to predict 😵‍💫

One of Wall Street's most revered firms takes another stab at a long-term forecast 🔭

Goldman Sachs expects the S&P 500 to generate a modest 6.5% total return per year over the next 10 years.

The firm acknowledges its forecast is well below the historical average. Furthermore, Goldman expects the U.S. stock market to underperform other world markets.

This note, published on Wednesday, has been widely covered. You can read more about the thesis here, here, or here.

But for our purposes, I think it’s worth looking back at when they published 10-year forecasts in 2012, 2020, and 2024.