The stocks most popular with both hedge funds and mutual funds have beat the market this year, Goldman says.
"The underperformance of popular positions today following President Trump's announcement of tariffs on imports from Mexico underscores investor concern about crowded positions," Goldman's chief U.S. equity strategist David Kostin says. "The 'wisdom of the crowds' can be a positive signal for subsequent stock returns."
The "shared favorites" include Adobe, Citigroup, Google parent Alphabet, PayPal, UnitedHealth, Mastercard, ServiceNow and Visa. They have outperformed the S&P 500 by 6.1 percentage points so far in 2019.Spencer Platt | Getty Images News | Getty Images While most of the stock market is in turbulence amid the trade chaos, Goldman Sachs has a portfolio that's crushing the market, returning more than 16% year-to-date.during heightened market uncertainties, including one tracking hedge funds' top holdings and one with large-cap mutual funds overweights, but the stocks that overlap those two baskets have delivered stellar performance this year.
"The underperformance of popular positions today following President [Donald] Trump's announcement of tariffs on imports from Mexico underscores investor concern about crowded positions," Goldman's chief U.S. equity strategist, David Kostin, said in the note. "The 'wisdom of the crowds' can be a positive signal for subsequent stock returns."
Even after today?
Should update this daily, especially after today with this $GOOGL drop.