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2014年12月14 Stock Market: Lessons Learned in 2014 Stock Market: Lessons Learned in 2014 Posted By: Alliance Bernstein Posted date: December 10, 2014 10:50:25 In 2014, US stocks forged ahead, international developed and emerging-market stocks?lagged, bonds did better than expected, and the IRS took a bigger bite. Here are some lessons for US investors to carry forward into 2015. forged ahead 取得进展，稳步前进 IRS Internal Revenue Service 美国国税局 Lesson 1: The US Market Keeps on Ticking Geopolitical crises were in the headlines throughout 2014: the threat from ISIS in Syria and Iraq, tensions between Russia and Ukraine, fighting in Gaza, the Ebola epidemic in West Africa, slower growth in China, and economic stagnation in both the Eurozone and Japan. Yet the US equity market still motored ahead.We are living in a global economy. If the rest of the world is struggling, can US companies continue to prosper?ISIS 一个活跃在伊拉克和叙利亚的圣战组织Motored ahead 遥遥领先 In the medium term, the answer could be yes. The US is still in the early stages of a cyclical expansion, and we think the overall growth rate will be supported by key trends among consumers, governments, and companies. US consumers paid down debt after the financial crisis and are now beginning to spend again—cautiously. Similarly, US federal and local governments pared back during the immediate post-crisis years, and they are now able to increase their budgets. Finally, US companies are gaining market share globally, and US manufacturing is now undergoing something of a renaissance. We think that these trends could continue for a while and that they are positive for US stockholders. Renaissance 特指文艺复兴 Resiliency 弹性 It would be a serious mistake to think that the US market is invulnerable, but it would be just as erroneous to underestimate its resiliency. After leading globally in 2013, in 2014 through November the US stock market?beat developed inte