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What a difference a year makes…not much 230808

There’s been significant movement (up & down) in the stock market over the past year; however, we’re essentially where we were 12 months ago.  

Investor sentiment has dramatically risen with declining inflation, but the broader market is essentially stagnant.  The Equal Weight S&P 500 is up a measly 1.8% from last summer’s high.  Despite the recent AI frenzy, some of the high flying tech stocks aren’t doing much better.  Apple has dropped 7.5% from its recent AI peak…and it’s only up 3.5% from last August.

This year has been a stock picker’s market, but for now, I remain cautious because of declining corporate earnings and sticky inflation.  The vast majority of my portfolio is safely parked in dull boring money market funds that are yielding ~5.2%.

PODCAST UPDATE:  Wealthsteading is now available on Spotify:

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