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Mount Everest is the tallest mountain on Earth at just over 29,000 feet. At 26,000 feet, climbers enter what is called the “death zone” where every breath is labored and the human body can’t survive for long. At the summit, there is little opportunity to take pictures and celebrate. Time is precious and climbers quickly start the descent to get below the death zone safely. As the S&P 500 Index (the “Index”) hovers near all-time highs at the end of January 2026, markets appear near the summit. It’s heady times.
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