CSC Strategy Letter Number 55: Kitty is Back in Town

Here we are in June, and things mostly continue on in a Newtonian fashion: “A stock at rest will remain at rest, and a stock in motion will remain in motion, seemingly at constant velocity and in a straight line, unless acted upon by a net force.” Or Elon swiping your Nvidia chips.

So yes, a number of big boy stocks continue to rip, a number of smaller cap stocks continue to meander and any variety of silliness, which as noted in our last Strategy Letter, seems impervious to “whatever.” As noted…again: in May, four technology stocks added more market value than the rest of the S&P 500 put together. Daily zigs and zags continue to be driven by useless predictions of whether the Fed will cut rates in 2024.(We will take the no vote)

Said another way by another thoughtful member of the prestigious “CSC Non-Partner” Club: “Regardless, keep up the good work, different views and perspectives are refreshing. Still a tough fit for us – structurally we are playing a different game, no dedicated small cap exposure, beholden to outperforming large cap-oriented benchmarks etc.”

Said one more way, because I have been just dying to use this somewhere and will credit FT Alphaville for exposing it: