The Few, The Proud, The Winners in 2008

Below we highlight the year to date performance of the 10 S&P 500 sectors with just 6 trading days left in 2008. As shown, Financials are by far the worst with a decline of 57.9% this year. Financials are followed by Materials (-47%), Technology (-44%), and Industrials (-43%). The other 6 sectors are actually outperforming the S&P 500 as a whole, which is currently down 39.8% this year. The Consumer Staples sector has held up the best this year with a decline of 19.4%.

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In the Russell 3,000, just 312 stocks are up year to date, while nearly 4 times as many (1,172) are down more than 50%. Below we highlight the 30 best performing stocks in the index year to date. As shown, Emergent Biosolutions (EBS) is up the most at 401%, followed by Star Scientific (STSI) (322%), Crawford & Co. (CRD.B) (205%), and Idenix Pharma (IDIX) (145%). There are hardly any notable names on the list of winners, with probably the most recognizable names being Dollar Tree (DLTR), Finish Line (FINL), and Panera Bread (PNRA).

2009 at least has one thing going for it -- it's going to be extremely hard for anything to be worse than 2008.

Comments

[Alex Filonov:]

'2009 at least has one thing going for it -- it's going to be extremely hard for anything to be worse than 2008.'

Very pessimistic statement. I am an optimist, something can and will be worse in 2009 than in 2008.

2008 Dec 22 04:36 PM

[Anthony Alfidi:]

It's not that hard for something to be worse in 2009. If fair value for the S&P 500 is really around 600, and the market overcorrects . . . well, there's a big achievement right there.

2008 Dec 23 12:22 AM

[Moon Kil Woong:]

It's nice to see that there are at least a few winners in this market. Innovation, technology, improved efficiency, and good management is the way out of any downturn. I look to these types of companies to lead us out of the dark not government bailouts and financial manipulation. That is what leads us deeper into the depths of this recession.

Give billions to promising companies not Lehman, Citibank, and Goldman Sacs. Give billions to research, education, roads, bridges, building out a more efficient better Internet and wireless system, not to GM, AIG, and a bunch of bellicose CEOs who mismanage every aspect of their business and gamble or fritter away decade long multi billion dollar companies.

Can 2009 be worse than 2008? It purely depends on the choices we make compared to those made in 2008. All is not set in stone, we still have choice. Americans are still in command of their future prosperity. And that is about as positive as it ever gets.

Happy holidays. Please be frugal even if people say overspending is a positive thing. It is not.

2008 Dec 23 02:30 AM

[Income Tax:]

Surprised to see those winners, mostly in bio-pharma, IT sectors. Hopefully next year will be better, with new President, new policy, new confidence, we can build some new, new economy, new structure, a brighter future. Happy holidays!

2008 Dec 23 04:02 AM