Growth Inches Back

The market had a nice rebound today. This was a reaction to what we had seen over the previous three days. In other words, Tech was up strongly while Value lagged. By no means does this suggest the rotation to Value is dead. The S&P 500 gained back 29% of what it lost over the three-day skid.

Today wasn’t the extreme growth tilt that I expected. To be sure, Tech was up the most but areas like Healthcare and Staples put in respectable gains today.

Our Buy List gained 1.88% today compared with 2.01% for the S&P 500. That’s not bad for a Tech-led day. Compare that with late August when we had several days where we trailed by 50 or 70 basis points.

Shares of Tiffany lost 6.4% today.

Posted by on September 9th, 2020 at 4:31 pm


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