Oct. 16 - At this week’s Investment Policy Committee meeting, we discussed how the S&P 500 and its sectors faired since the benchmark first vaulted the 1100 threshold.
In the 12 months after eclipsing the 1100 mark, the S&P 500 gained nearly 17%, in response to the Fed’s efforts to stabilize the financial markets by increasing liquidity following the collapse of Long Term Capital Management. So, if someone tells you we haven’t come very far since the S&P 500 first broke above the 1100 level, let them know that while on the surface the market’s performance has been unchanged, the same cannot be said for its underlying sectors.
