The Boyar Value Group just released our latest quarterly letter to clients.
Please find an excerpt of the letter below:
Last year was a textbook case of why stock market investors are often better off ignoring geopolitical noise and market prognosticators: Going into 2023, the consensus among Wall Street strategists was that a recession was imminent, and that the S&P would advance a mere 6%. Not many people would have predicted that during a year featuring a regional banking crisis, a debt ceiling standoff, ongoing war in Ukraine, a new war in the Middle East, and a continuation of rate hikes that pushed the Fed funds rate to its highest level in
22 years, GDP would increase, unemployment would reach its lowest level since 1969, and the stock market (as measured by the S&P 500) would advance 24%. If investors had moved to the sidelines waiting for the “right” moment to invest in the stock market, they would have missed out on handsome gains.