Odd Lots
The Bubble Portfolio Is Surging Once Again
Animal spirits are back.
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A hypothetical portfolio of frothy assets is surging once again after getting absolutely smashed last year.
The portfolio was crushed last year as the Federal Reserve hiked interest rates at the fastest pace in decades, but it seems in 2023 you can’t quite keep a good bubble down. Investors are piling into assets that were once among the least-loved, driving the bubbleicious basket to a year-to-date return of almost 30% That compares with a 14% in the S&P 500.