2023's results gave us something to cheer about! Only commodities posted a decline for the year. Stocks soared and bonds recovered (hat tip: Jay Powell!).
High beta, large-cap growth (think the magnificent seven), and quality were the most significant factors driving the stock market's performance in 2023.
The capitalization-weighted S&P 500 whooped the equal-weighted S&P 500!
Here's why:
Download the year-end market update and asset category returns report here: