Bekijk nu ons webinar over ES Small Cap en leer hoe je kunt beleggen in Amerikaanse Small Cap aandelen.
First, let us discuss how the markets stand. In a nutshell: still very weak. It seems that the stock exchanges are trying to bottom out. But also that this is not very successful. Every now and then we see sharp rises and then you might think: aha, things are going well again - but the next day they fall just as hard. In technical terms, it is a bear market with an occasional dead cat bounce.
It is still the case that everything is falling. In a normal market, people would flee into bonds or real estate, but not now. Now it is even so that the prices of raw materials and energy are also "falling". In the case of raw materials and energy, it is not a question of a bear market, but of strong graphs that are temporarily slowing down.
The strangest thing is that all the graphs are so similar. They all make the same dive, the same recovery and then the same dive again. I look at the charts of a few hundred ETFs and it is as if I keep seeing the same picture. That is really very strange. Probably the explanation is simple: money goes into the market - money goes out of the market.
It is very difficult to make a profit in this market (we can only buy, not go short). Getting in during a rebound is risky.
Our portfolio was high when commodities were just rising. They went down again and we have been struggling ever since. The portfolio now stands at a 4.7% gain for the year. The AEX fell this year from 798 to close at 659. That is - 17%.
I assume that the system will return to optimal performance once a floor has been set and/or the markets normalise.
Kind regards,
Franciscus Roorda.