I’ve been managing money now for over 30 years and I can confidently say that 2017 was a year to remember. Here’s a recap of what we saw, what’s to come, and why all of us here at Sloy, Dahl & Holst are looking forward to another fantastic year.
2017 Sloy, Dahl & Holst Recap
For those that have individual stock portfolios with us at Sloy, Dahl, & Holst, my guess is that you were shocked to see the returns we posted. And for the retirement accounts, our model portfolios all exceeded their benchmarks.
As you know, we were overweighted in financial services. We said a year ago that interest rates were headed higher, and we had 3 interest rate increases. In addition to financial services, our largest weighted was Technology. This is a great thing because technology was the leading sector last year.
Our Favorite Sectors for 2018
We continue to like financials – I think Bank of America has been an unbelievable mover and still has some great potential. Plus, we’re going to get 4 this year. That bodes well for financial services and big banks!
We also continue to like the technology sector. Facebook, Apple, Amazon, Netflix, and Tesla (which is my#1 pick this year). We also have some other great technology stocks that we’ve added to the portfolio this year.
Lastly, we’re going to even see more money move to the emerging markets. Why? Emerging markets offer better value than the US right now.
The Market is Moving
We’re already off to one of the best starts I’ve seen in over 30 years of the market just in the first 10 days or so! So for those that think that the market has probably peaked, that couldn’t be further from the truth. The market is heading higher. We will see a correction, but it may not even happen this year.
Thank you for the opportunity to work for you in 2017 and we look forward to a fantastic 2018.