Transcript
Hello, everybody, welcome to Thursday, the market closes three hours early today. So I thought I’d send this a little early myself, keep it short and simple. Usually days like today, the volume is pretty low. It’s hard to tell you know what’s happening for sure. It was an interesting day, in that the leadership came from real estate utilities and large tech companies. We have Microsoft and Apple, for example, which you know, beat the market today. The S&P 500 was up .35%. But the vast majority of our other pieces didn’t do as well as the S&P 500, which is exactly the opposite of what we’ve been seeing for the last several weeks.
Matter of fact, Monday, Tuesday, where some of the biggest over performance days I’ve seen in my career, not too surprising to see it slow down here, especially in this strange day. But this is an important component of kind of understand this portfolio development, especially this year. So for example, right, when everything fell apart, the only two things, you know, back in February, March, only two things that were working were large tech companies and advanced health care. And so we bought those, and then eventually, we started to seeing leaks, you know, basically money comes into the market, and it’s not really inflating your portfolio, it’s going off to something you don’t have.
So you look around you say, Oh, it’s going to innovative technology. So we added that to the portfolio. And then eventually we saw like, again, it was going off to clean energy, we put that in the portfolio. And then finally this fall, we saw some pretty good leaks going off to value. So we have that in the portfolio. So now we got to watch real estate, we got to watch, you know, utilities. International hasn’t had a run for a long time. So it’s possible. So but that’s the idea. We have all of these things in our broad market indexes. But in terms of adding them to our targeted indexes, you know, we’ll have to wait and see how this goes.
Got to be careful to draw a lot of conclusions off of a day like today and yesterday, were the volumes down and the holidays are here might have some of that same problems, kind of really figuring out what’s going on with the market until you know next year. As far as that goes. We do have some crazy things happening next year with the you know, the Georgia runoff election too, that could have some impact on the stock market.
So altogether, you know, fantastic timeframe for us. December has been unbelievable. November was equally great as far as that goes. So very, very pleased with everything. Want to thank everybody for watching and everybody have great holidays and we will see you on Monday. Thank you very much.