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September has been a challenging month for the stock markets. An adjustment to the central banks' interest rate projections and an increased understanding that interest rates are likely to remain high for an extended period has pressed the stockmarkets lower. It's worth noting that we've seen a significant rise in the stock market over the past year. This has been driven by war, rising interest rates, and persistent high inflation. Companies continue to generate healthy profits, and unemployment remains low. The question now is whether this positive trend will continue or if we will once again see stock prices being pushed lower due to new economic challenges. Personally, I still find it difficult to envision the stock market rising significantly from these levels. I perceive that the risk is definitely is on the downside after a remarkable year in the stock market. A bullmarket despite higher interest rates and high inflation.
In such uncertain times, I prefer to focus on holding quality companies in a diversified portfolio. My portfolio was down by -1.8% in September. This was significantly better than the broad market, where S&P index was down by a staggering -4.87%. The best-performing company in the portfolio was $GLP (Global Partners LP) (up 13%), while the worst-performing company was $BLDR (Builders FirstSource Inc) (down 14%).
Last month I wrote β autumn will truly test whether the market can continue its positive trend of the past yearβ. The market has since then tested this on the downside. October will be exciting.
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