Benchmark update.
My benchmark of the global stocks market is “MSCI ACWI IMI Net Total Return in CHF” as calculated by MSCI. To adjust it for the inflation, I divide its value in CHF by the value of “Landesindex der Konsumentenpreise (LIK)” (“Swiss CPI”) for the previous month.
The latest ATH of 2121.76 CHF nominal was reached on 16.07.2024. The YTD gain was +22.1% in nominal CHF, +20.3% in inflation-adjusted CHF.
LIK for July went down a bit and changed by -0.18% m/m.
The benchmark has pulled back with a minimum of 1843.76 CHF nominal reached on 5.8.2024, as evident by 142 messages posted in this thread around this date. The decline from ATH was -13.1% nominal and -12.9% inflation-adjusted, corresponding to “Correctio Vulgaris”. The YTD gain was +6.1% in nominal CHF, +4.7% in inflation-adjusted CHF.
As per yesterday, 14.08.2024, my benchmark stands at 1975.243 CHF nominal. It has moved +7.1% (both nominal and inflation-adjusted) from the 5.8.2024 minimum and stands at -6.9% nominal and -6.7% inflation-adjusted from ATH. This is again the “Mild Correction” regime. The YTD gain is +13.6% in nominal CHF, +12.2% in inflation-adjusted CHF.
Stay the course.
元博士