Capital Insights: Another Year of New Highs, But What Comes Next?
Nov 19 2025 | Back to Blog List
VIDEO TRANSCRIPT:
Hi, I’m Trent Von Ahsen, partner with Cedar Point Capital Partners. Welcome to the November 2025 edition of Capital Insights.
This month, we’re looking at another record-setting year for markets and examining the fundamentals for clues of the path ahead.
Let’s take a look at Figure 1.
As of mid-November, the S&P 500 Index has logged 36 new record closing highs for 2025.
This makes 2025 the second straight year with more than 35 new market highs – and – going back nearly a century, it marks the 18th calendar year since 1928 to achieve this feat.
So, what’s driving the recent momentum?
Without a doubt, the AI boom is a key factor. Companies are investing enormous amounts of capital into data centers, chip infrastructure, and cloud capacity. Nvidia recently became the first company in history to cross $5 trillion in market cap, and AI demand is boosting earnings for other mega-cap tech companies like Microsoft, Amazon, Alphabet, and Meta.
But there are other tailwinds also powering the market right now.
The Federal Reserve has restarted its rate-cutting cycle, and lowered rates by half a percent over the last two months. All the while, corporate earnings have remained strong, and the U.S. economy continues to hold up despite tariffs and trade tension.
So, what should you take from all this?
The big lesson is the value of staying invested through uncertainty.
If you had seen this year’s headlines in advance, you might have expected a tougher environment. But stepping to the sidelines would have meant missing the S&P 500 Index’s double-digit gain, as of this recording, and its long list of new highs.
History continues to show that reacting to headlines is far less effective than following a disciplined, long-term plan.
If 2025 highlighted the importance of staying invested, 2026 may highlight the importance of diversification, especially given how concentrated today’s market leadership has become.
If you have any questions about this video or your portfolio, reach out and let’s start a conversation.
My name is Trent Von Ahsen, and I look forward to seeing you right here next month for our latest edition of Capital Insights.
Stay curious, stay mindful of your goals, and we’ll see you next time.
The commentary on this blog reflects the personal opinions, viewpoints, and analyses of Cedar Point Capital Partners (CPCP) employees providing such comments and should not be regarded as a description of advisory services provided by CPCP or performance returns of any CPCP client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this blog constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Cedar Point Capital Partners manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.