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Market Comment - June '23

June 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

You already know that the US stock market’s S&P 500 has been propelled upwards in 2023 by just a handful of technology stocks. In contrast, more than 490 of this index’s constituents have gone sideways and down. The stock generating the greatest excitement right now is Nvidia, which has rocketed 180% so far this year. Why? Think of Nvidia as the company supplying the picks and shovel in an AI gold rush, and, at the moment, they are the only shovel seller in town. Perhaps the more important takeaway is nothing to do with AI. The lesson is that the investing mania centred on the US is nowhere near over, which means that their bear market is nearer the beginning than the end. Apple is another one of that happy tech cohort, ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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