The Boyar Value Group just released our latest quarterly letter to clients.
Please find an excerpt of the letter below:
The first quarter of 2025 reminded investors that markets don’t move in straight lines. After notching a record high on February 19th, the S&P 500 closed the quarter down 4.6%—its worst performance since 3Q2022. Most of the damage came from last year’s highflyers: shares of the so-called “Magnificent Seven” fell nearly 15% on average and were off 21% from their December 2024 peak. Meanwhile, the rest of the S&P 500 managed a modest 0.4% gain during the quarter. After years of widening performance gaps between mega-cap tech and everything else, the rubber band finally began to snap back—albeit not in the way investors might have hoped! ...