What Has (And Hasn't) Worked So Far This Year?
As of the end of November, the Consumer Discretionary sectot was the winner year-to-date with financials close behind (both up around 23%). The clear loser across asset classes is Crude Oil (down around 10%). We suspect at the start of the year that very few 'managers' or strategists would have expected anything like the distribution of outcomes that we see here - with EURUSD unchanged and Hedge Funds up just over 3% on average for the year. Some context for what 'could' happen in the remaining three weeks of the year.
and digging into the details of the Consumer Discretionary sector:
Chart: Goldman Sachs
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