Instead, let’s zoom out.

Imagine compressing the last 12 years of economic ups, downs, innovation, and chaos into one calendar year. We’ll tell the story of those dozen years as if they unfolded month by month — tying major global events to the familiar rhythms of everyday life, from holiday hangovers (food and otherwise) to family gatherings around the table.

Along the way, we’ll use the Dow Jones Industrial Average as our compass.

January: The Hangover

Picture January — shaking off holiday indulgence with coffee and half-hearted resolutions.

This mirrors the lingering aftermath of the financial crisis and housing collapse. By the end of 2013, the Dow closed at 16,576.66 — a tentative rebound. 1 Things felt better, but not fully healed. Foreclosures lingered, unemployment remained elevated, and confidence was fragile.

Then came the Fed’s signal to tighten policy — the infamous “taper tantrum.” Yields spiked, stocks wobbled, and investors wondered if the recovery would hold. By month’s end, markets steadied, but nerves remained.

February–March: Slippery Slopes

Winter dragged on like a family ski trip — fun at times, with a few icy patches.

This period reflects 2014–2015, marked by plunging oil prices, geopolitical tension in Crimea, and the Fed ending quantitative easing. The Dow climbed to 17,823.07 in 2014, then slipped to 17,425.03 in 2015 amid China-related turmoil. 1

Low rates helped support markets, but volatility tested patience.

April–May: Spring Surprises

As spring arrived, so did unexpected shocks.

Brexit stunned markets. Later that year, a U.S. presidential election reshaped global expectations. You might’ve been at barbecues or Little League games, but headlines felt heavy. Markets shook — then adapted.

By the end of 2016, the Dow stood at 19,762.60. 1

Summer: Smooth Sailing

June, July, and August brought calm.

This was 2017 — a low-volatility stretch fueled by tax cuts, deregulation, and steady growth. The VIX hovered near record lows. Things felt easy.

Like a summer road trip or a poolside book, markets rewarded patience. The Dow climbed to 24,719.22. 1

September: Everything Stops

Then came the moment that changed everything.

Like an over-served guest ending the Labor Day cookout early, 2020’s pandemic brought the world to a halt. Offices closed. Kitchens became classrooms. Streets went quiet.

Markets plunged — then rebounded sharply as unprecedented stimulus poured in. By year-end, the Dow had risen to 30,606.48, a remarkable recovery. 1

October: The Inflation Monster

Halloween arrived with a new fear — inflation not seen in decades.

This period reflects 2021–2022: supply-chain disruptions, energy shocks tied to Ukraine, and aggressive Federal Reserve rate hikes. Gas prices climbed. Grocery bills followed.

The Dow peaked at 36,338.30 in 2021, then fell to 33,147.25 in 2022 — a reminder that inflation quietly erodes purchasing power. 1

November: The New Conversation

Thanksgiving tables buzzed with a new topic: Artificial Intelligence.

Could machines write essays? Diagnose disease? Change entire industries? Amid laughter and second helpings, the future felt closer than ever.

Markets responded. By the end of 2023, the Dow reached 37,689.54. 1

December: The Future Arrives

By December, AI dominated dinner-table conversations.

Generative tools helped draft family newsletters. Ethical questions surfaced. Parents and grandparents wondered what careers might look like for the next generation.

Optimism grew. The Dow climbed to 42,544.22 by the end of 2024 — and powered higher to 48,063.29 by the close of 2025. 1

Zooming out reveals a familiar pattern:

• Crises pass

• Innovation endures

• Discipline wins

Over these “12 months” — really 12 years — the Dow nearly tripled, growing from 16,576.66 to 48,063.29, or roughly 9.3% annually, despite every twist along the way.2

Looking Ahead

As we look toward 2026 — or 2037 in our metaphor — change will continue. AI will evolve. Policies will shift. Trade tensions will linger.

But history suggests one constant: resilience finds a way.

If you’d like to talk through any of this — or anything else on your mind — I’m always here.