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Thought Leadership
John Petrides Report: The S&P “5” cited by CNN
By Richard Zhang on February 18, 2020
Last week, John Petrides, a portfolio manager for the wealth management team in New York, published a commentary which was then featured in CNN Business: “The S&P 500 is really the S&P 5. Big tech dominates the index”.
Summary
Investors continue to deploy their funds into Exchange Traded Funds (ETFs) and mutual funds that replicate the S&P 500 Index. However, doing so without understanding the current construct of the Index could be a mistake. The Technology sector has been a major driving force behind market returns over the past few years. Taking that one step further, a handful of stocks (think F.A.A.N.G. + MSFT) have pulled the market higher. This is in contrast to the perception of owning a S&P 500 Index for a diversified basket of securities across the entire U.S. economy. However, the reality shows that one simply owns a concentrated Tech portfolio where a few positions can have a sizable .
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You are about to leave the site of Tocqueville Asset Management, L.P. The link you have accessed is provided for informational purposes only and should not be considered a solicitation to become a shareholder of or invest in the any mutual fund managed by Tocqueville Asset Management, L.P. Please consider the investment objectives, risks, and charges and expenses of any mutual fund carefully before investing. The prospectus contains this and other information about the Funds. You may obtain a free prospectus by downloading a copy from the Tocqueville Funds website (www.tocquevillefunds.com), by contacting an authorized broker/dealer, or by calling 1-800-697-3863. Please read the prospectus carefully before you invest. By accepting you will be leaving the site of Tocqueville Asset Management, L.P.