If you invested in a simple S&P 500 index fund you didn’t need to predict this sea change in advance. You didn’t should make a bet on certain stocks, industries or sectors. The winner-takes-all nature of the S&P 500 itself did this for you. This is the character of a market-cap weighted index the place the winners carry the day with out having to pick them prematurely. The smallest companies by market cap are the least expensive by traditional valuation metrics and they even have the worst returns this year.
A broad rally pushed stocks higher without the help of the standard high-flying names, though shopping for trailed off into the shut...Read More