The Forest Through the Trees
With two weeks in the books for 2023, markets are continuing an attempt to heal after a brutal year. For us, we are staying focused on the big picture and avoiding immaterial headlines or data points that deflect our attention from what the market is trying to tell us through the price action. In this week’s market update, we will review what we believe a deflating technology bubble means for other areas of the stock market and what the price action over the past 6 months may be trying to tell us about which sectors and geographies may emerge from this bear market as long term leadership.
Key Takeaways:
- We think future areas of leadership tend to bottom ahead of the overall market
- We believe there is a generational shift away from the top of the market to smaller sectors
- Unloved areas of the market from 2010 – 2021, we think are showing signs of leadership
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