By Herb W. Morgan, III, Efficient Market Advisors

Like that party that just keeps going past midnight, it seems nobody told the equity markets 2017 has ended. At this writing, the S&P500 Index is up 6.3% in 2018, the MSCI EAFE Index is up a similar 6.5% and the MSCI Emerging Markets Index tops them all with an 8.7% return[1]. All of this, while echoes of Burns’ Auld Lang Syne are still rattling in our champagne-soaked heads. But soon the market’s momentum will meet the reality of the economic, corporate and geo-political developments of 2018. One cannot live on momentum alone. So, will the fundamentals ultimately deliver more upside or should investors be less sanguine? Continue Reading Here