Its half time in the 2022 season, and while its been a very disappointing 1st half, there actually are a few bright spots on the horizon.
We've now been gripped by a bear market since last November. Here's how IES, the indexes and the funds performed through the first six months of 2022.
For IES the first half of 2022 was a disaster. We suffered the worst performance in our brief 6.5 year history.
And as bad as those numbers look, to coin a famous golf commentator, they were actually "Better than most". As it turns out, we crushed the performance of the Indexes and virtually all of the Mutual Funds, all of whom posted some of the worst 1st half returns in 52 years!
The S&P 500 had the worst half year since 1970!!!
Since January 3rd, the index is down 20% and now sits at levels originally scaled back in late 2020.
The Nasdaq actually faired worse, down 29% in the first six months.
With very few exceptions, fund performance has been terrible overall.
Crypto currencies had been touted as a good hedge against inflation and a safe haven when the stock market slumps. It turned out to be neither in 2022.
In short, the Crypto markets are looking more like a boat anchor than the safe haven they were intended to be.
Some Good News
It is hard to believe, but through all of this there is actually some potential good news.
So what does IES do?
We will continue to invest in Green markets and exit Red ones. We will be more aggressive in exiting Yellow markets with early signs of slipping to Red.
We will prepare and hope for a big comeback and big returns in the 2nd half of 2022.
As always, please don't hesitate to contact me with any questions.