Vestor Capital Quarterly Commentary
October 23, 2023
Equity indexes have had a wide dispersion of returns this year. U.S. large technology stocks have posted strong gains as evidenced by the NASDAQ Composite return of 27%, whereas their small-cap counterparts are only up 1%. Developed international indexes are up modestly due in large part to a modest weighting of technology stocks and a heavier weighting in financial, health care and consumer stocks which have generally posted modest gains. Emerging market stocks, due in large part to weakness in Chinese equities, have only posted gains of 2%.
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