
That 2024 was the year for US equities will shock no one, with all eyes on the Magnificent Seven stocks. Investors have been transfixed by AI, and the US mega caps are believed best positioned to deliver them. Nevertheless, this run is more than a gargantuan “meme” run, with the likes of Amazon, Alphabet, and Nvidia delivering strong earnings, and consensus being that they will continue to do so. To hedge my bets, that’s not a recommendation either way: consensus has often been wrong footed, from the global financial crisis way back to Tulipmania. However, UK fund investors’ 2024 can