CHAPEL HILL, N.C. (MarketWatch) — Who is winning the “market of stocks versus a stock market” debate on Wall Street?
This is one of the longest-lived debates, in no small part because there is no right answer. There are some market environments in which the vast majority of stocks are highly correlated with each other, in which case it makes more sense to consider Wall Street to be a monolithic stock market. In other cases, however, most stocks are relatively uncorrelated with each other—and it then becomes appropriate to describe Wall Street as a loose collection of individual stocks.
As always for Hulbert On Markets, I turn to the top performing advisers for insight.
Stock pickers dominate the scoreboards