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November 24, 2014
NEW YORK Stocks can keep climbing next year, tacking even more gains onto their phenomenal run of the last five-plus years. Just don’t expect them to be as big or to come with as little heartburn as before.
That’s what mutual fund managers of all types are forecasting, as they peer ahead to 2015 and coming years. For a hint of what it may be like, just look back a few weeks when the Standard & Poor’s 500 index declined more than 7 percent from mid-September through mid-October. The tumble raised investor anxiety, but a stream of strong earnings reports helped it dissipate. The S&P 500 has since climbed to another record high.
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