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"Know what you own, and know why you own it."
— Peter Lynch
Yesterday, the S&P 500 hit its 30th new all-time high this year, but a rising tide lifts all boats is not true for the US equity market this year. The chart below shows different ‘segments’ of the US market and how they have performed so far this year. It is of note that the difference between best (Momentum) and worst (Small Cap) is close to 40%! Stick to the winning strategy or bet on mean reversion? Good question …