Did you catch what the Annual Letter 2025 forecasted for the S&P 500 / US markets? Our predictions weren’t just guesses—they were a roadmap. The market’s movements have aligned with our outlook: a strong uptrend from February 3 to 21, followed by a bearish phase from February 24 to 28, exactly as outlined in our Annual Letter 2025. Coincidence? Or the power of precise forecasting?

Above is an illustration featuring the year-to-date S&P 500 chart alongside excerpts from our Annual Letter 2025 covering the US market.