Welcome back to the weekly Flow Traders Investment Competition update!
For a third week in a row the week ended in red with losses across the board. The S&P 500 ended 3.78% lower, the Dutch AEX 1.65% lower and the Eurostoxx with 0.91% lower.
In the US, the FAANG and other tech stocks kept free falling with AAPL dropping over 2.5%. In the bond market spreads on corporate bonds widened, and for seven weeks straight the crude oil price has been declining. European stocks do a bit better with Italy’s bank stocks index FTIT8300 taking the lead. In the Netherlands Altice N.V. took a small loss of 12.53% by under performing their quarterly estimate.
In the Flow Traders Investment Competition, almost every investment group except CFQ has followed the market and took a small loss. CFQ took a 2.35% loss this week while Conquistadores Capital made a small profit of 0.48%. As reflected in the ranking below, having a market neutral portfolio is the winning strategy, for now.
Written by Adnaan Willson, Education & Career Commissioner