US stock prices peaked in late January 2018 after a steady 15-month advance. Since then, economic news has been very positive-growth is solid, unemployment is low and inflation is tame. Why have stock prices not reflected these good times for the last nine months?
A recent CNBC post highlighted how poorly active managers of stock funds are doing this year. They pointed out that active fund managers had their worst first half since the data from Bank of America started tracking their performance in 2003.