2015 Has Been A Bore…The Median US Stock Is Flat YTD by Eric Bush, CFA, Gavekal Capital
We are 9+ months into the year and the median stock in the United States has officially gone nowhere. The good news is that this is major improvement from the 9/29 low when the median stock was down -8%. The bad news is unless we get a major rally into the end of the year we are set to have the worst performance according to this metric since 2008.
It’s definitely paid to have exposure to Japanese stocks this year. The median stock in Japan is up 9% (all returns are in USD). While Australia, New Zealand and Singapore are all down at least 11%.
Peter Lynch was one of the best growth investors of all time. As the Magellan Fund manager at Fidelity Investments between 1977 and 1990, he averaged a 29.2% annual return. Q1 2021 hedge fund letters, conferences and more The fund manager's investment strategy was straightforward. He wanted to find growth companies and sit on them Read More
Overall, broad exposure to European equities has paid off as well. Only Norway (-3%) and Spain (-6%) are the only countries where the median stock is negative. Italy has led the charge higher as the median stock there is up 21%. Denmark and Ireland are both at least 18% higher YTD.