From the desk of Steve Strazza @Sstrazza
For the week ended Friday, June 26, 2020:
Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.”
It sounds like Charles Dickens could have been writing about today’s market in his famous passage from A Tale of Two Cities.
Many areas of Growth and Technology are trading at or near record highs, and it’s sure felt like the “best of times” for anyone who’s been overweight these stocks in recent years.
On the other hand, cyclicals and Value were already hurting coming into the year and then endured serious structural damage during the Q1 crash. If you’ve been invested in these areas, particularly those groups directly impacted by Covid-19, it might just seem like the “worst of times.”