2024 Q3 Quarterly Letter
If you heard that the war in Ukraine would continue, unrest would heighten in the Middle East, a former President would be shot during a contentious Presidential election season, and the Federal deficit would reach an all-time high, you might think that the equity market would struggle. Fortunately, for long-term investors, the first three quarters of 2024 have been recorded as the best first three quarters of any year in the 21st century. While the third quarter had its ups and downs, the S&P 500 rose 5.5% and closed the quarter at an all-time high of 5,762. This brought the S&P 500’s year-to-date gain to nearly 21%. The Dow Jones Industrial Average (DJIA) also had a record performance, rising 8.2% for the quarter, ending at 42,330. This brought the DJIA’s year-to-date gain to over 12%. (barrons.com/market-data)
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