Last year was bruising for investors across the board. With the S&P 500 down 19%, the Nasdaq lower by 33% and the Bloomberg U.S. Aggregate Bond Index down 13%, there weren’t too many places left to hide in 2022. One of the dominant narratives was the apparent breakdown of the traditional 60/40 portfolio, meaning a composition of 60% stocks and 40% bonds. Investors with this allocation experienced a portfolio decline akin to the great financial crisis of 2008!
