You weren’t rewarded for contrarianism in 2024.
If you decided in January [1] that enthusiasm for A.I.-related companies looked frothy, US indices seemed stretched, and that as inflation eased and rates normalised we’d surely see a rotation into something – anything – other than the same half-dozen and a bit tech behemoths that drove returns in 2023 [2], then woe betide you for having ideas above your station.