Can 2026 Build on 2025’s Market Gains?
Examining the factors behind 2025’s double-digit gains is instructive as a starting point for thinking about next year.
November 30, 2025
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Examining the factors behind 2025’s double-digit gains is instructive as a starting point for thinking about next year.
“In contrast to the situation at Walmart, incoming CEO Michael Fiddelke is tasked with a turnaround,” said Quo Vadis Capital president and founder John Zolidis. “We assume he has new ideas to rebuild Target’s brand equity, refresh the merchandise and reignite sales growth, but these have to be articulated.”
“Partnering in China absolves management of some operational complexity and geopolitical exposure while freeing resources to focus on a nascent turn in the North American business,” said John Zolidis, president and founder of Quo Vadis Capital.
The average restaurant stock has dropped 13% since the start of the third quarter. In contrast, the S&P 500 is up 8% over the same period. This is a big spread. Why are restaurant stocks being sold off?
“They need to have exciting new menu items that drive incremental engagement from their customers,” Zolidis said. “They have to do that in an environment where the consumer is being more careful about where they’re spending their money, so it’s a big challenge.”
Markets are trading at new highs despite the disruptive impact of ongoing trade negotiations. Or is it because of them? In my experience, robust markets have correlated with periods of uncertainty, shock and disruption.
By Mariapaula Gonzalez On Thursday morning, Chloe Chan rode her scooter a couple blocks up from the home she was catsitting at in Manhattan to
Stocks are up slightly for 2025 after five months. Is that surprising? After all, the S&P500 had lost more than 12% in the wake of
Weakness in the first quarter, however, has “thrown some doubt” on whether the firm can achieve its goals, wrote John Zolidis, president of Quo Vadis Capital, in a Thursday note. At a minimum, he wrote, the timeline has been pushed out.
In my March letter I wrote that I wasn’t yet worried. Am I worried now? Let me explain. By now you’ve already read more than