Dear Investor,
November was an unpredictable month. Initial doubts and profit-taking at the beginning of the month gave way to renewed optimism in the last week of November, mainly driven by expectations surrounding the Federal Reserve's (Fed) interest rate policy. The S&P 500 closed the month with a minimal gain of 0.13%. ESBH reported a small loss of -1.33%. For the year as a whole, there was a gain of 27.56%.
The best stock in years—NVIDIA—was last month's biggest loser. Broadcom was the biggest winner.
The Fed will also be keeping a close eye on employment figures and inflation for the month of December. As things stand at present, the Fed is likely to cut interest rates by a quarter of a point.
I would like to wish everyone a very happy holiday season.
Sincerely,
Henry van Ginkel