The S & P 500 may have advanced in 2023, but it has been a nightmare for stock pickers, said Ned Davis Research.
The S & P 500 is higher by 15% this year, buoyed by gains in megacap tech stocks and, more recently, by falling Treasury yields.
In fact, the median return of -1.1% in the S & P 500 has only been lower seven times since 1972.
Over the past three months, only 32.5% of stocks beat the S & P 500, the note said.
"But in terms of sizeable options for most asset allocators, 2023 has been historically tough," Clissold wrote.
Persons:
Ned Davis, Ed Clissold, Clissold
Organizations:
Ned Davis Research, Ned
Locations:
U.S