Although history tells us that 2020 will see another rise in the markets, there are several contributing factors that may cause 2020 to be a historical outlier. For example, 2020 is unique in that we are currently in a record-breaking bull run. We are in an election year and election years are typically more volatile. Valuations are high. All bull runs eventually come to an end, so any of these (or a combination of) contributing factors may snowball into a large sell off (correction), resulting in a 20-30% drop in the markets.
JHH predicts that 2020 will be another positive year for the stock markets. However, due to the unique contributing factors, JHH is making the decision to begin the process of becoming more defensive.