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Awful month, April, for all markets, except perhaps oil.
Other than pure energy bet or market short, alternative funds may be only bright spot. AQR boasts nine with double-digit returns YTD.
The Decline Continues
While YTD is important, indexes had peaks at different times. #DJIA, #SP500 peaked around New Year, #NasdaqComp & #R2000 in early-Nov 2021, highflyers & EMs in Feb 2021. Those hi-to-lo provide a better assessment of damage.
I agree. Here are current drawdowns ...
#SP500 -16.26% YTD
#DJIA -11.26% YTD
#NasdaqComp -27.27% since 11/8/21
#R2000/ $IWM -27.52% since 11/8/21
#EM $EEM -29.87% since 2/12/21
#Highflyers $ARKK -73.59% since 2/12/21
Even in bond land.
So, these performance numbers that we (I) call attention to, especially short-term ones, are: "Not important ..."
Sometimes I think money managers want to both ways, or at least their firms do. When a fund has good performance, even short-term, the person in charge of investor relations will post a tweet or send an email highlighting so.
But when investors or financial writers call attention to the poor performance: "Not important ..."
I do think that the professional life span of a money manager is determined by how long their investors believe in the money manager.
Further, to believe in a money manager (or strategy), a fund needs to behave and perform as expected by its investors.
I've added some commentary here.
June offered some welcomed relief.
Used last Friday's Lipper data drop to get preview of a good month for equity funds, at least. Should be close barring any large Trick or Treat on this Halloween Day 2022.
Thank you again for your tireless efforts.
In the screener, Display Period still shows Oct-2022 as the endpoint
Edit: I logged out and logged back in, I see Nov-2022 as the endpoint
Friday was last biz day of month so was able to get jump (preview) on year-end performance.