Transcript
Hello, everyone, welcome to Wednesday, we had our second down day today, the S&P 500 was down just a little bit over a half a percent. We had quite a few up days in a row until it seems like we’re getting a little bit of rest, but it’s not falling very much. And what’s important about this day again, just like yesterday, so when the market was really going up, all of a sudden we start to see these industries like energy and financials and industrials that had been pushed down a lot in the downturn, really going up. And now we’ve had two down days and again, same thing energy at the bottom financials at next and the industrials are next, there’s 11 categories that we divide the S&P 500 up into, of course, technology was at the top and actually had positive rate of return.
So even though the S&P 500 lost money today, my portfolios as a whole actually made money today. And at Microsoft was up 3.7%, Apple was up 2.6%. And so what we are seeing is in those down days, the market is rotating back to those things that did well when the market fell before, I think it’s very important to have that focus. I’m not a big believer in making big shifts in the portfolio, I like to pretend like it’s a baseball situation where I’ve got nine players to deploy. And if the data says the bats betters going to the right, I want to be able to shift slightly to the right, and want to move everybody to the right, because we don’t really know where the ball is gonna go could go left.
But if you’re not careful right now, and if you’re looking, you might think airlines and those types of things are the thing to have. And that’s only true if the market continues to have some really strong gains. And we don’t have another reoccurrence of the virus. And so I prefer to look at the data and say, Hey, the ball is going to the right, we’re going to shift slightly. And let’s look at robotics and artificial intelligence and cybersecurity and all those types of things, that we’re doing well in the downturn, and they’re doing well in these down days. Interesting enough, we’ve even made money in the last two days when the market was down. So that’s where we’re at at the moment. Look forward to talking to you tomorrow. Thank you very much.