In the waning days of 2004, this column predicted a difficult and bifurcated stock market for 2005. So far, this year has played out close to expectations.
In February, I maintained that in a year of extreme investing, good money could be made in super-high-growth companies such as Apple (AAPL Quote) or Google (GOOG Quote), as well as in super-cheap stocks like KB Home (KBH Quote) or Citigroup (C Quote). Well, three out of four ain't bad!
I also expected the cap-weighted indices as well as the so-called average stock to struggle. So far this year, the indices have ranged from up a little to down mid-single digits. No one has gotten rich buying and holding any diversified index fund. And I don't think the second half will be much better. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,501.05 | 1,114.11 | 2,212.10 | 35.46 |
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