**The stock market's frenzy over the past 10 years may need to calm down in the future**

The US stock market has made a fortune in the last 10 years:

• S&P 500 increased by 216% (annualized 12.1%)
• The Dow Jones rose by 159% (annualized 10%)
• Nasdaq skyrocketed by 336% (annualized 15.8%)

In fact, it's mainly the tech stocks that are holding up the market - giants like NVIDIA, Apple, and Microsoft can account for 30%.

But this feast may be coming to an end. Analysts on Wall Street are now more pessimistic:

• JPMorgan expects an annualized return of only 6.7% over the next 10-15 years.
• Goldman Sachs estimates 6.5%, with the worst-case scenario possibly being only 3%.

The reason is just two words: too expensive. The valuation is at a historical high, and with tariff pressures, the coming days may not be that comfortable.

Want to beat the market? You need to rely on a dual strategy of selecting individual stocks and consistently holding index funds. The era of easy profits over the past 10 years may really be over.