What a fantastic Santa rally to end 2023 on a high. The portfolio likewise benefited, hitting all-time highs as well which made the holidays even more joyous. With markets close to all-time highs, I took the opportunity to rebalance the portfolio. As bond yields start to fall, I’ll also need to consider deploying more cash into the markets soon.
Last month, Apple (AAPL) was the worst performing big tech name, largely due to growing concerns over iPhone demand. The other big tech with larger weight in our portfolio, Microsoft (MSFT), didn’t fare much better either.
S&P 500 1 month performance as at 7 Jan 2024
For the year 2023, the Magnificent 7 or Big Tech or whatever you want to call them, performed super well way above market expectations. But be careful, they bigger they are, the harder they fall.
S&P 500 1 year performance as at 7 Jan 2024
The market seems to have gotten a little ahead of itself (again) in terms
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