Strategies End Mid-Year on Upside of a See-Saw Market

    by John Bajkowski

    Investors have experienced a see-saw of ups and downs during the first half of 2004, as the markets balanced the news of strong overall corporate earnings growth against the impact of rising interest rates, higher oil and commodity prices, growing Middle East violence, and an uncertain presidential race. Thirty-four of the 54 strategies tracked on showed positive gains for the first half of 2004. Overall, strategies investing in smaller-cap companies have outperformed strategies that focus on larger companies during the first half of 2004, and, generally, value strategies have outperformed growth strategies.

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