The artificial intelligence-inspired rally with a US tech focus as its bottom line has driven S&P 500 to over 5,200 for the first time, with other sectors broadening the rally.
2024 is likely to be a very successful year: my personal picks have enjoyed great success with just one exception. In order, here's how they are performing:
- September: Nvidia [NASDAQ:NVDA] $462.41 to $942.89 +104%,
- October: Skechers [NYSE:SKX] $48.29 to $60.83 +21%,
- November: Palantir Technologies [NYSE:PLTR] $17.79 to $24.18 +36%,
- December: General Dynamics [NYSE:GD] $244.83 to $281.16 +15%
- January: Palo Alto Networks [NASDAQ:PANW] $340 to $286.78 -16%
- February: Live Nation Entertainment [NYSE:LYV] $88 to $105.99 +20%
This compares favourably to the US S&P 500 index over the period which has oved from 4,514.87 to 5,234.18, up +14% (as of March 22nd, 2024).
It goes to show that stock picking using fundamental research and analysis can pay off – and you can beat the market - in this case with six out of seven picks. I've seen a total equally weighted alpha return of 30%, including the PANW, loss beating the market return of 14% by 16%.
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