Friday, November 13, 2015

Extremely Narrow

The market has been extremely narrow this year and as a result YTD returns have been strictly about what you own. The tables below show how the 10 largest stocks in the S&P 500 have contributed more the 100% of this year’s 2% gain. Compare that to 2013 and 2014 where the largest 10 stocks contributed less than 20% of the year’s returns. Market leadership remains tied to a handful of stocks which is why it hasn’t been profitable to simply have been long the market this year.

Strategas Tables

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Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.