"@madamswer Maybe that flight to safety which you speak of is...

"@madamswer Maybe that flight to safety which you speak of is being directed into the global healthcare index. It's up 8% YTD. Meanwhile CSL is down -12% YTD."

Yeah, but if I wanted to be an index investor I would simply have invested in Index funds to begin with.

But, like everyone investing for their own account, I seek to outperform the broader market over time (otherwise, why would I bother?). So I adopt a "business owner" mindset when it comes to investing, combined with looking for fundamentally undervalued companies.

By definition, that means that at any given point in time, some sub-sector indices will be outperforming my basket of investee companies.

In the past 2 months it was the global health care sector. In the months preceding that it would have been, I dunno, an index of global gold stocks. And before that it would probably have been an AI index. Next quarter it could be an index of lithium stocks, followed by a perhaps consumer cyclicals. And so on.

Talking about what were good investments by looking in the rear view mirror is easy.
But, just like knowing 3 months ago that the global healthcare index was going to outperform, knowing which other indices are going to outperform over the coming 3 months requires unique powers of clairvoyance which I lack.

So all I can do is try to pick undervalued stocks.

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