According to the recommendation of multinational investment bank Goldman Sachs, investors should follow the advice “All You Had To Do Was Stay – Invested” that Female singer Taylor Swift conveyed through a song in the album 1989.

Female singer Taylor Swift

“This time next year, investors will look back and realize the best investing strategy for 2024 is to follow Taylor Swift’s advice: All You Had To Do Was Stay – Invested,” Chief Strategy Officer US equity strategist at Goldman Sachs, Mr. David Kostin commented.

This is not the first time the famous American singer has caught the “eye” of economic forecasters this year. Previously, the extremely successful shows during the Eras Tour became an analyzed content in the US Federal Reserve’s (Fed) US Economic Outlook Report (Beige Book).

“While the pace of tourism recovery in the region slowed at the beginning of this year, we received notice that in May, hotel revenue in Philadelphia was at its highest since then. The Covid-19 pandemic has broken out to date.

According to collected data, the vast majority of room renters are fans who came to see Taylor Swift’s concerts in this city,” Fed mentioned at Beige Book.

Sharing the same opinion, Mr. Kostin also said: “The launch of singer Taylor Swift’s ‘Eras’ tour is one of the most notable cultural events of 2023. Global ticket sales are estimated to exceed 1 million. billion USD. The economic effect of the tour is significant.”

In particular, according to the singer’s plan, the Eras Tour will likely last until the end of November 2024, roughly corresponding to the 12-month period in the forecast, that is, if Taylor Swift maintains the momentum of her success. This year, the US economy will continue to move in a positive direction according to Goldman Sachs’s judgment.

“As an homage to the ‘2023 global phenomenon,’ our 2024 US Equity Outlook will be titled ‘All You Need to Do Is Keep Going’ All You Had To Do Was Stay – Invested’ (All You Had To Do Was Stay – Invested). The title of the song released in the album 1989 is everything we want to convey,” Mr. Kostin said.

According to Goldman Sachs’ predictions, the S&P 500 index will bring a total return of up to 6% by 2024, and this index could end the year at 4,700 points.

Mr. Kostin recommends that investors continue to focus their assets on stocks next year, based on the expectation that US GDP will increase by 2.1% by 2024. Besides, profit margins are still maintained. Stable, although stock prices change continuously, they still fluctuate within the “decent” price range. Not to mention, the Fed also decided to stop raising interest rates.

All of these signals will bring more positive impacts in the near future, especially for the “seven” large-cap technology stocks including Apple, Alphabet, Amazon, Microsoft, Nvidia, Meta. and Tesla.

“Overall, in 2024, these seven stocks will outperform the rest. The entities listed above have faster expected revenue growth, higher margins, greater reinvestment rates and stronger balance sheets than the remaining 493 stocks.” , Mr. Kostin shared.

Summarizing all the market signs, a representative of Goldman Sachs said that investors should stay the course and continue to own stocks next year, despite concerns about the possibility of a recession. international.

“All You Had To Do Was Stay” is a song composed by singer/songwriter Taylor Swift and released in the album titled 1989 on October 27, 2014. Goldman Sachs borrowed the song title of “2023 global phenomenon” – Taylor Swift and added the word “investment” to convey its message most effectively.