Dec 20, 2023
As of 19th of December, the S&P 500 is up 24.2% this year. Far from a broad rally, this market rally has been exceptionally concentrated this year on a couple of stocks. 71% of stocks have indeed been underperforming the index, the highest number on record. For 2024, investors need to remember that exceptional events have a strong tendency not to repeat themselves every year. We expect a reversal to the mean with a stock market comeback of the many forgotten and undervalued solid companies.