I haven’t written about the stock market lately. It has been my hobby since February, 1982. The market has given me a window into the world and a doorway to meet friends I might otherwise never know. At various times over these four decades, it has provided a diversion, from things like the war in Ukraine.
My stock universe is small compared to thousands of companies worldwide. When employed, I kept up with 20 or 25 companies. Now, there are 37 dividend-paying companies in my retirement portfolio and a few more on my watchlist. Every day I’m grateful to those who’ve taught me about the market.
We’re in a volatile time as the economy is being weaned off artificially low interest rates, as we struggle with a global pandemic, as we suffer from polarization at home and as a war rages in Europe. The economy and the market have held up amazingly well, but volatility reflects some potential headwinds.
I monitor each stock’s price relative to its 52-week price range. As of Friday, 11 of 37 were at least 20% below their 52-week high. Some might see a buying opportunity; others might see a reason to avoid stocks entirely. I’m not recommending anything, but simply illustrating today’s market volatility.
The number indicates the relationship to its 52-week high: Leggett & Platt (-37%); Artisan Partners (-32%); Intel (-31%); AT&T (-31%); 3M (-29%); Air Products & Chemicals (-27%); Unilever (-27%); BlackRock (-24%); Cummins (-24%); Simon Property Group (-24%); and STORE Capital (-21%).