Tough sledding - primarily for money managers dealing with a shifting focus, because so many had become acclimated to 'group think' concentration solely in the biggest-cap tech and similar (FANG) stocks, or ETF's. Now as we have a bifurcated economy, with the market shifting emphasis, individual stocks are continuing to warrant separate assessment, rather than be tossed into what I, on-occasion, call the easy way of managing portfolios by solely using groups.
A good example at the moment might be the XLC (Communications ETF) that I lamented State Street (for greed?) loading XLC with Google (GOOGL) and Facebook (FB), when at the time AT&T (T), Verizon (VZ) and CenturyLink (CTL) were doing fine, without that extra volatility being injected, which is exactly what happened.
This is a tricky time, both fundamentally, technically politically for sure, and for that matter medically. So the answer to being bullish or bearish on the market does not invite a simple answer. Which market? Growth, value, super-cap or a balance including suppressed small-caps that are likely to advance early in 2021, if they even wait that long. Plus lots depends on the Election standing, because of the chaotic implications if it did not, or for that matter if gridlock (a benefit for Biden as described in detail last night) were not to be sustained.
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