The S&P 500 finished the year with a total return of 14% (11.4% price appreciation and 2.3% dividends), and investor sentiment hasn’t been this high since… the beginning of 2014 (must be something about the holidays). Last year we saw sentiment collapse during the spring sell-off, and Goldman Sachs analysts David Kostin, Amanda Sneider, and Ben Snider are predicting a modest 4% total return for the year, so investors may want to watch their US stock portfolios carefully. S&P 500 PE multiples could contract after Fed rate hike Kostin, Sneider, and Snider expect to see the S&P 500 index go…