Mainstream financial channels have made a big deal out of the current relief rally (“Is it a ‘V-shaped’ recovery?” they comically muse). Whether it’s a V, W, L, Nike swoosh or (my favorite) bathtub, the fact is that most stocks are still down on the mat.
(This is no surprise. The average bear market lasts 12 to 18 months. We are just beginning month three—yikes.)
The well-known S&P 500 always leads the headlines. Five hundred of America’s blue-chip firms, sounds like a pretty good sample size, no?
In 2020… no. The index is weighted by market cap, giving favor to Microsoft (MSFT), Apple (AAPL) and Amazon (AMZN)—its top three holdings—which have outperformed the market by a wide margin recently.… Read more