The stock market has been a disaster for investors since the crisis erupted… or has it? It depends on which business sector you were invested in.
As shown below by a performance table collated by Bespoke Investment, Technology and Consumer Discretionary stocks have now recouped all of their losses since the fall of Lehman Brothers, and are the best performers. Consumer Staples come in third, outperforming the overall S&P 500 as well.
The leading performance of Consumer Discretionary stocks since Lehman is the most surprising since this is a sector which caters to large, generally non-essential purposes. Tech comes in close second. Apple (AAPL), a seller of luxury tech goods, has been a prime example of an outperformer, having soared since Lehman went bust.
Times are so tough, but Americans go and buy iPads? This clearly isn’t your grandfather’s depression.
We can debate the death of the U.S. consumer all we want, but investors seem to have already decided:
(See the right-most column for performance since Lehman, ‘Cons Discret.’ is Consumer Discretionary )