Dear Quaint Community,
As we approach the end of the first half of the year, we are pleased to share the latest performance results and portfolio updates. Despite a shorter trading week due to the bank holiday on Monday, our model has once again demonstrated its resilience and effectiveness.
What happened this week?
Stocks faced challenges last week due to rising interest rates driven by positive economic data and persistent inflation. Despite inflation readings meeting expectations, disappointing corporate earnings weighed on market performance. Here are three noteworthy points:
Economic Strength: Economic data remains robust, with projections indicating above-trend growth for Q2 2024.
Rate Cut Potential: Although recent FOMC minutes hinted at possible rate hikes, recent data and speeches suggest rate cuts could still occur by year-end if inflation softens.
Inflation Concerns: While inflation fears persist, overall growth is strong, and the risk of stagflation appears overstated.
Weekly Performance Overview:
Returns
Day 1: Model: +0.41%, Benchmark: +0.07%
Day 2: Model: -1.44%, Benchmark: -0.70%
Day 3: Model: +0.51%, Benchmark: -0.66%
Day 4: Model: +0.93%, Benchmark: +0.91%
Total Weekly Returns:
Model: +0.40%
Benchmark: -0.39%
Cumulative Returns:
Model: +6.80%
Benchmark: +10.98%
Performance Highlights:
Our model has once again outperformed the benchmark, marking the fourth consecutive week of positive results. This consistent performance highlights the robustness of our AI-driven strategies in navigating volatile market conditions and optimizing portfolio returns.
Conclusion
We appreciate your continued trust in Quaint. Our commitment to leveraging advanced AI algorithms and providing transparent, data-driven insights remains unwavering. As we look ahead, we remain optimistic about our model's ability to deliver consistent returns and achieve our investment goals.
Thank you for being part of our journey. Let's continue to navigate these markets together, with confidence and strategic foresight.