At this year’s halfway point, we offer the LPL Financial Research Mid-Year Outlook 2014: Investor’s Almanac Field Notes containing key observations and updates to our outlook for 2014. Similar to a farming almanac, our Investor’s Almanac is a publication containing a guide to patterns, tendencies, and seasonal observations important to growing. The goal of farming is not merely to grow crops, but to sustain living things — investing shares the same goal.
As we expected, markets in 2014 have been less influenced by politics and policymakers than in 2013 and more dependent upon growth. Growth is an essential characteristic of all living things, and in 2014, growth is vital to our