ROFL! And then, this self-admonishing one, with the same conclusion!!Note that the pair-wise correlations of all S&P 500 stock combinations has fallen to 30%, down from a high of 70% in 2011. This indicates that we are close to being in a differentiated/stock picker’s market.
http://www.businessinsider.com/is-the-a ... z2GHjQVcXY...it really is a stock-pickers’ market. It’s a phrase I don’t like because it is overused by guys on TV who want to sell you there stock-picking services. Somewhat fitting I guess that just as everyone scrambles to go macro, stock picking seems to be working. On what basis do I say this? Look at the index of implied correlation of the elements of the S&P
... and after you've looked at it, look at how index fund owners are outperforming the average of the total of non-index fund investors, by just about their cost-advantage, without all that nose... er... a... stock picking.
Ah yes, this year - finally after all those past years when we said it would but wasn't - WILL be a stock pickers year, fer sure, fer sure.