Stock Strategy Performance: Winners and Losers in 2002
by John Bajkowski
At the writing of this article, 2002 is drawing to a close, and it seems likely that as you read this the S&P 500 will have experienced its third consecutive calendar-year loss. Historically, this string of losses would be the first since the 1939-through-1941 period; the S&P 500 experienced four consecutive years of losses starting in 1929. While in the past few years investors could take some solace from gains in small-cap stocks, it appears likely that small, medium and large companies will finish down on average for the year. Overall, as indicated through the indexes at the bottom of Table 1, smaller-cap stock indexes did perform better than larger-cap indexes and value strategies faired better than growth strategies.
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