NU Stock Analyst
Thanksgiving for investors in insurance stocks was close to a balanced meal. We ate the turkey–it was delicious–and picked at the feathers. In sum, the month of November and Turkey Day were satisfying events, marred chiefly by insurance stocks again underperforming the general market.
The November portfolio contained 119 stocks. In total they moved up under 4%. There were 74 advances and 45 declines, which was close enough to a win/lose ratio of 3/2 to pronounce it so. Five of the eight industry groups advanced and three ended down for the month.
The Financial Services stocks earned top honors with a lusty 8.72% gain. All eight of the Financial Services issues were up in November.
Note that UBS has been added to the Financial Services sector. UBS, standing for Union Bank of Switzerland, is reported to be the largest asset manager in the world. Some two years ago the Swiss giant acquired Paine Webber, and since then has been expanding its money management business in the USA.
The Multi-lines registered almost as robust an advance as the Financial Services stocks. In a group of nine there were three gains of more than 20%. The Multi-lines ended up 8.1%.
The Specialist group registered a 6.14% gain to become third best for November.