2024-04-12 09:00:00 ET
Summary
- Moon Capital Management, LLC is a SEC Registered Investment Adviser. Moon Capital helps individuals, families and institutions meet their financial goals by providing a full range of investment management and planning services.
- The first quarter’s stock returns, much like the returns for all of 2023, far outpaced increases in earnings – both actual and projected.
- Despite 2024 Wall Street stock euphoria, however, the bond market is signaling that it doesn’t quite agree with the Fed’s prediction of its own actions, particularly concerning future projections beyond this year.
Dear clients and fellow shareholders:
Over a period as short as a few months – or even a year – stock prices can be influenced by almost anything, including factors that are completely unrelated to the actual values of the underlying businesses. The 5-to-10% rise in the U.S. stock market during the first quarter was a pleasant reminder of that fact. (Our stock portfolio increased approximately 13% during the first quarter. Your actual equity portfolio returns in each year likely differed somewhat from our model, due to your specific asset allocation, possible legacy positions in your account and/or rounding errors.)...
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For further details see:
Moon Capital Management Q1 2024 Letter