The Ticker
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Thoughts On The First Half
Continue reading… 0 CommentsThe market is passed the half way mark for 2009, and it's good riddance to the first two quarters. Here's a quick rundown of some of the more interesting metrics for the first six months.
The S&P 500 returned 1.77 percent and increased its market cap by $177.968 billion, according to Birinyi Associates.
What strategy worked best? Birinyi again:
For the first half of 2009 the best strategy was to buy the 50 stocks that did the worst in 2008. This group of fifty returned, on average, 35%. It is interesting to note that the better a stock did in 2008 the worse it has done in 2009. We would also note that only six of the ninety possible strategies have lost money this year.
The current bull market, which began on March 9th, can best be characterized as being lead by those stocks with the worst trailing fundamentals . . .
