The week has come to an end. The S&P 500 gained 1.49% today. This was the second-best day for the index since the election. That fact seems odd because this week was so dramatic. The Dow was down 500 points today and then it was up 500 points.
For the year, the S&P 500 is down 2%, which is very much in the normal range for six weeks in.
The relative performance of our Buy List has been very good this week. That’s always odd to say—we’re doing less awful is the message. Still, it reflects the fact that we have high-quality stocks and those don’t fall as hard in down markets.
At noon today, we were far ahead of the market, but our lead sagged as stocks recovered in the afternoon. For the week, the S&P 500 fell 5.16% while out Buy List lost 3.84%.