Year End Global Update

For the year 2010, we saw the following occur across global markets:

  • E. Eur, Mid-East, Africa was the top performing region for the year with commodities being a strong boost to the region.  Emerging Markets in general finished up 15.8%, while the world was up 9.3% and the World Ex-US up 7.8%.  Europe was up 1% for 2010, and EAFE was up 4.9%.  So, 2010 was the year of Emerging Markets, but also with a very decent showing by the US.
  • Small Growth surged in the 4th quarter of 2010 to lead all sectors for the year, up 28.3%.  All Small and Midcap styles were up over 20% for the year.  Large Caps all finished up in the low teens. 
  • It can be considered a very good year for US markets in general, with the S&P 500 Total Return up 15.1%.  The Dow 30 finished up 11% and the NASDAQ Composite up 16.9%.  The 4th quarter was an amazing finish for the US markets with a strong showing virtually across the board. 
  • Consumer Discretion led all sectors almost from start to finish in 2010 as retail businesses remained very strong.  Industrials and Basic Materials benefitted from the global surge and finished second and third.  Energy led all sectors in the 4th quarter, up a whopping 20.9%, leaving it in 4th place for the year up 17.9%.  Utilities and Healthcare finished in the bottom two of US sectors up 0.9% and 0.7%, respectively. 
  • Cotton led all commodities we track in 2010, up 91.8%.  Silver had a 40% fourth quarter to propel it up almost 80% for the year.  The much advertised Gold was up 27.8%, and Crude Oil finished the year as one of the worst performing commodities, but still strong up 15.1%. 
  • Peru took our top country honors for 2010, up 65.9%.  Argentina was up over 50%, Indonesia and Thailand up over 40%, and the Philippines just slightly under 40% to round out our top 5.  The bottom 5 were all negative for the year.  France and Portugal were down single digits, China and Spain down in the teens, while poor ol' Greece was down over -35%.  As China proved this year, country selection is not always a walk in the park. 
  • For the second year in a row, all of the talk about a crashing US Dollar ended with a wimper with the Dollar finishing 2010 up 1.4%.  The EURO was the worst performing currency down -6.5% for the year.

To view today's complete Year End Wrap, click here.

Keith Hays

Please see important disclosures at the bottom of this page.