Investing Experts How Steven Cress' top 10 2024 picks have fared
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Dec 17, 2024 Steve Kress, Vice President of Quantitative Strategies at Seeking Alpha, shares his insights on the stock market for 2024. He discusses his top ten stock picks, highlighting the staggering 907% YTD growth of AppLovin. The conversation dives into the pitfalls of underperformer Dorian and the volatility of the Magnificent Seven stocks. Kress also emphasizes the importance of value stocks and hybrid investment strategies, as well as the relevance of evolving market trends and quantitative methods in guiding future investments.
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2024 Market Overview
- 2024's market was influenced by MAG7 stocks, interest rates, inflation, and the election.
- Volatility peaked in August due to labor growth concerns, but investor confidence returned as the Fed signaled easing monetary policy.
Quant System Methodology
- The quant system uses data-driven methods similar to conventional analysts but with added computational power.
- It ranks stocks based on value, growth, profitability, EPS revisions, and momentum, refreshing metrics daily and comparing them to sector peers.
2024 Top Stock Performance
- AppLovin (APP) yielded a 907% YTD return, while other top picks like Celestica (223%) and Modine (134%) also performed well.
- Dorian, an energy stock, underperformed, declining by 42%.