My Two Cents

November: A Horrible Month

Chris Farrell Dec 3, 2007

The latest market review is out for the month of November from money managers Aronson + Johnson + Ortiz.

The highlights:

Worst monthly stock market performance since 2002

No bright spots–except for bonds and cash

Growth and size relatively strong–large growth on top, small value on bottom

International, though down, is solid for the year; emerging markets, though sharply down, are spectacular for the year!

Here are some total return equity market figures for November:

S&P 500 -4.18
S&P Reit -9.24
Russell 2000 -7.18
Dow Jones Industrial Average -3.63
MSCI ex-U.S. (international index) -3.89
MSCI emerging markets -7.14

The comparable figures for cash equivalents and bonds:

Vestek 90 day Treasury bills +0.57
Vestek Long Treasury Index +4.40
Vestek Broad Bond Index +2.18

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