One quarter of the way through 2012, and this chart from Bespoke is a great candidate for Chart Of The Year.
It shows how in Q1, the best performing stock deciles were the worst performing deciles last year.
We’ve talked about this a lot this year. In fact, on January 19, we said that the three words ‘Dash For Trash’ were already defining the market.
And this phenomenon was seen all over the place.
One of our favourite markets to watch this year was a brutal loser last year: The Egyptian Stock market.
And within the US, no stock seemed to catch more people with their pants down more than Bank of America, a stock that collapsed last year, but which is up over 75% this year.
Even Greece took a circuitous route to some fairly decent gains (actually it gained nearly as much as the S&P 500).
As the quarter ended, there were already signs of this trend reversing Bank of America’s momentum has been stalled. Greece has been getting pounded for weeks, and Egypt has seen some big losses.
So it’s probably too early to declare this the story of 2012, but it’s certainly the story of the first quarter.