2023 Laggards Begin to Catch Up to the Market as Rally Broadens Across Sectors

2023.12.14 03:18

Have never done this before but a number of laggards in 2023 have suddenly started to catch fire, since the 10/31/23 bottom.

Here’s just a few of the names owned by clients:

: +22.7% YTD return as of 12/12/23 close, vs the +10.58% YTD return as of 10/31/23

• JPMorgan (NYSE:): +22.6% YTD return as of 12/12 close, vs +6.72% as of 10/31;
• Charles Schwab (NYSE:): -21.25% YTD return as of 12/12, vs -36.6% return as of 10/31;
• Citigroup (NYSE:): +10.86% YTD return as of 12/12, vs -15.16% YTD return as of 10/31;
• Goldman Sachs (NYSE:): +5.75% YTD return as of 12/12, vs the -12.87% return as of 10/31;
• Boeing (NYSE:): +30.52% YTD return as of 12/12, versus the -1.93% YTD return as of 10/31;
• ETF: +11.40% YTD return as of 12/12, vs the -4.20% return as of 10/31;
• Nike (NYSE:): +3.44% YTD return as of 12/12, vs the -11.30% return as of 10/31;

(Returns sourced from Morningstar as of 12/12/23)

The Boeing (BA) reversal is most impressive. It’s still a ’25 – ’26 story too.

Some of these are top 10 client holdings, but most are not. Some are knocking on the door now.

None of this is advice or a recommendation. Just pointing out to readers what looks to be catching a bid. Past performance is no guarantee of future results. Investing can involve loss of principal.

Thanks for reading.

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