The Globe and Mail columnist Gordon Pape on Tuesday looks back at 2024 and tells readers that his predictions for the year were generally correct. Mr. Pape writes, "I wrote in the first January issue of my Internet Wealth Builder newsletter that the coming year 'is looking much better ... than any we've seen since the start of the pandemic.' That's how it turned out," he gloats, noting that all the major North American indexes set new records, although they were backing off those highs at year-end. The S&P/TSX Composite gained 18 per cent, the Dow was ahead 12.9 per cent, the S&P 500 jumped 23.3 per cent and Nasdaq added a mind-boggling 29.8 per cent. "I predicted that interest-sensitive equities such as utilities, REITs, pipelines and telecoms would be strong performers in 2024 as interest rates dropped. Except for telecoms, that proved to be the case." The S&P/TSX Capped Utilities Index was up 8.57 per cent for the year. Pipeline stocks such as Enbridge, TC Energy and Pembina all posted strong gains. He admits, however, that he expected the artificial-intelligence craze would abate and enthusiasm for tech stocks would cool. "Wrong," he says. "Investors kept pouring money into the Magnificent Seven."