Summary
- My portfolio had a total return of -6.1% in 2022, strongly beating the S&P index fund's total return of -18.2%.
- market preference for value over growth continued to drive performance, as did my temporary rotation out of riskier fixed income investments.
- I began increasing bond allocations again in the second half, resulting in 7% portfolio income growth for the full year.
- The bear market could bottom this year even if we find that a recession is already past. Value can continue outperforming growth in a new bull as it did in 2003.
For further details see:
Year End Portfolio Review - Value Comes Through In 2022