2024 Q2 Quarterly Letter
Equity and bond markets began the second quarter of 2024 with a rough start, thanks to the Federal Reserve’s decision not to reduce interest rates due to stubbornly high inflation rates. However, during the quarter, strong performances from companies tied to artificial intelligence and a more favorable outlook on inflation numbers changed that perspective. By the quarter’s end, investors saw multiple all-time-high days, and many records were set for equities. In the first half of the year, 31 records were set for the S&P 500. As a follow-up to the strongest first quarter since the pre-pandemic days of 2019, investors continued to enjoy the bull run in the second quarter.
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