The worst performance of the year award goes to… China!
China’s domestic A-shares were the world’s biggest loser in 2018.
We had fortunately reduced our exposure to China after the last run-up. We now are analyzing the situation and considering putting more chips back on the table, so to speak. Let us explain why:
Read MoreThe first quarter was “interesting” with the return of massive volatility. Overall, markets foreign and domestic reacted by wiping out the January gains to finish the quarter slightly underwater.
We have long expected that the prevalence of increasing economic information and reporting combined with the ever-larger computer driven investment funds would result in a mass disarray, and boom, there it is!
Read MoreMarkets were true to form for the first half of 2016, fluctuating wildly with every news bit and then calming down with market data. The US’ S&P 500 was down by nearly 11% in February, yet finished the first half up 3.8%. The international EAFE index (Pendo’s benchmark) was even more volatile, falling nearly 13% at one point in the first quarter and rebounding somewhat to end the half down 4.0%. The Pendo International Strategy followed a similar pattern, falling by nearly 9% in February, and recovering to finish the first half of 2016 up 5.5%.
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