Vestor Capital Quarterly Commentary
October 9, 2020
Major world equity indexes continued to advance in the third quarter as scientists brought us closer to a vaccine for COVID-19 and treatment protocols improved. Performance has varied widely across the indexes. The Nasdaq composite index, which has a heavy weighting in technology stocks, is up 25% in 2020. Meanwhile, the S&P 600 small-cap index has fallen 15% in 200, and international indexes remain negative for the year. Companies whose revenues and earnings were resilient to the economic impact from the virus have performed very well, while those whose fortunes are tied closely to the economy have not fared as well.
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