Shadow Stock Gains Limited by Pause in Small-Cap Stocks
The Model Shadow Stock Portfolio is up 2.0% since our April column and up 4.7% for the year as of the end of May.
This lags the S&P 500 as represented by the Vanguard 500 Index fund (VFINX), which is up 7.8% year-to-date. It appears small-cap stocks are taking a breather after a very strong run, but they are still positive.
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As I write this in early June, the entire market is dropping on unemployment figures and negative economic forecasts throughout the world. Next quarter’s earnings reports will soon be in the mix, and it won’t be long before political commentary ramps up for the primaries and the election. Despite the bad economic news and the growing civil unrest abroad, the stock market is still positive, but it is well behind the 20% return of a typical pre-election year.
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