Black Financial Advisor

The stock markets are on a tear and you're missing out if you aren't part of it.

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Have You Ever Heard of the Magnificent Seven? If Not - You Better Ask Somebody!

The magnificent seven are a mega-cap group of 7 stocks that generated outstanding returns in the 2023 S&P 500 Index.

The S&P 500 rose an impressive 24.23% last year but compare those returns to the magnificent seven:

Nvidia rose 250.7% last year, Meta (formerly known as Facebook) rose 194.1%, Tesla rose 127.8%, Amazon rose 83.0%, Alphabet (Google) rose 63.2% and Microsoft rose 58.7%. Apple finished last, but it outperformed the S&P 500 with a 48.1% rise, twice the S&P 500’s advance.

Although these returns are impressive, these Magnificent 7 stocks are not bulletproof. Even seemingly invincible stocks can have issues. In 2022, all seven of these companies finished the year with double-digit percentage losses.

Past stock market performance does not guarantee future results so prudent investors must stay aware of market environments and keep a well-diversified portfolio.

P.s. BTW, so far in the new year (YTD), Nvidia is up 24.4%, Meta is up 11.08%, Tesla is down -26.5%, Amazon is up 3.8%, Alphabet is up 9.02%, Microsoft is up 7.67%, and Apple is up only 0.85% as of this blog (Jan. 25, 2024).

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Bitcoin Tops $30,000 For First Time in 10 Months

The world's largest cryptocurrency (Bitcoin) reached $30,000 Monday evening for the first time since June 2022.

Some industry advocates acknowledge the asset as a potential "safe haven", such as gold, as recession and bank fears are at the forefront.

Bitcoin has surged 81% so far this year, though is still down over 57% from its all-time of over $65,000 in November 2021.

Do you believe Bitcoin will continue to rise this year and beyond?