November 2024: a fantastic investing month

• High returns in November
• The United States is forging a path forward
• 2024 on the whole was a good stock market year

Here's the translated table in English with the same formatting:

Good to know: here you can see the net returns of Peaks portfolios in November 2024, all of 2024 and since the start of Peaks after deducting Peaks, fund and transaction fees. The value of your investments may fluctuate. Past performance is no guarantee for the future.

Above you can see the return of a portfolio of €10,000. This does not include deposits or withdrawals. If you have deposited or withdrawn money this month, your return will look different from what you see here. Your personal return also differs if you have invested less or more than €10,000. This is because of the monthly fees that Peaks charges.

Table 2: Risk Peaks portfolios

Here is the translated table in English with the requested formatting:

Good to know: here you can see the risk of the four Peaks portfolios over different time periods (last month, this year and the average since Peaks started). Risk reflects the variation in returns on an annual basis and is also known as ‘volatility’. Risk is measured by converting the standard deviation of Peaks portfolios' net daily returns to an annualised basis.

The United States is forging ahead

The good returns are mainly due to US equities, especially those of companies in the tech sector. US equities are almost 30% in the plus, while European equities only achieved just over +7%.

Investor optimism about the US is mainly based on the strength of the US economy, especially when compared to the European economy. US consumer confidence was higher than expected in November, as were consumer incomes and spending. More new jobs were also added than stock market analysts had expected. That said, the US economy did cool down somewhat, as shown by US producer confidence (based on the ISM index). But overall, the US economy is robust.

Looking ahead, investors are also positive about Donald Trump's return to the White House. Indeed, they expect his policies to be positive for the growth of the US economy. This was also the reason why stock markets rose so strongly in November.

Europe, on the other hand, is struggling with political instability: governments have fallen in Germany and France, for instance. Also, European consumer confidence is lower and consumer spending is actually declining. This prompted the European Central Bank (ECB) to cut interest rates by 0.25%. This is reflected in the interest rate you get on the Peaks Interest Account: it too went down by 0.25%. Then again, a positive effect of the interest rate cut is that the prices of existing European bonds (with higher interest rates) have risen. This contributed to the sharp rise in value of Peaks portfolios in November.

Table 3: Net returns of index funds included in standard Peaks portfolios

Here is the table translated to English with sentence case for the header row and column:

2024 was a good stock market year

Judging by the figures we have now, we will soon be able to look back on a great stock market year with very nice returns. Of course, it did not all go up in a straight line - 2024 also had ups and downs. But it all turned out well in the end. So we wish you very happy holidays and look forward to the new year, in which we will again keep you informed of all stock market developments!