The Boyar Value Group just released our latest quarterly letter to clients. Please find an excerpt of the letter below:
Even so, for the first quarter of 2022, the S&P 500 still declined by 4.6% (its first quarterly decline in 2 years) and both the Nasdaq and the Russell 2000 entered bear market territory (typically defined as a fall of 20% or more from recent highs)… The decline in the major averages does not tell the whole story, however, because the typical stock has done significantly worse than they have. While not a complete apples-to-apples comparison, as of April 6 the “average stock” in the S&P 500 had declined by almost 17% from its 52-week highs, a figure that for the Russell 3000 exceeds 32%.
