Guinness Global Innovators, an investment management company, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund generated a total return of 21.9% (TR in GBP) in 2024, compared to the MSCI World Net TR Index return of 20.8%. 2024 turned out to be yet another successful year for stocks. For the first time since the 1990s, the S&P 500 has now produced two years in a row with returns of more than 20% (USD). Against a complex backdrop of shifting monetary policy, geopolitical instability, and disparate regional economic performance, global...
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