Goldman Sachs expects global stocks to achieve an annual return of 7.7% in the coming decade in US dollars — close to historical rates, despite high valuations.
🔹 The main driver: Earnings growth (~6% annually) + limited cash distributions
🔸 By regions:
🇺🇸 America: 6.5%
🇪🇺 Europe: 7.1%
🇯🇵 Japan: 8.2%
🌏 Asia (excluding Japan): 10.3%
🌍 Emerging markets: 10.9% (driven by China and India)
🏦 Recommendation: Diversify outside the US market, with a preference for emerging markets, where a weaker dollar could enhance additional returns.