S&P 500 -- YTD performance

 Worst stocks in the S&P 500 on a percentage basis this year

Company	Ticker	% ch.	Sector
Generac Holdings	(GNRC)	-70.9%	Industrials
Align Technology	(ALGN)	-70.8	Health Care
SVB Financial	(SIVB)	-68.3	Financials
Catalent	(CTLT)	-67.3	Health Care
Meta Platforms	(META)	-67.3	Communication Services
Match Group	(MTCH)	-64.5	Communication Services
Signature Bank	(SBNY)	-59.2	Financials
Stanley Black & Decker	(SWK)	-57.2	Industrials
Zebra Technologies	(ZBRA)	-56.8	Information Technology
PayPal Holdings	(PYPL)	-57.2	Information Technology
V.F.	(VFC)	-55.8	Consumer Discretionary
Warner Bros. Discovery	(WBD)	-55.1	Communication Services

Sources: S&P Global Market Intelligence, IBD

ETF composition - Invesco QQQ

Invesco QQQ correspond to the price and yield performance of the NASDAQ–100 Index®. 

The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The Fund and the Index are rebalanced quarterly.

• holdings https://www.invesco.com/us/financial-products/etfs/holdings?audienceType=Investor&ticker=QQQ
• Fidelity screener: https://screener.fidelity.com/ftgw/etf/goto/snapshot/portfolioComposition.jhtml?symbols=QQQ

Nov 18, 22; finviz charts, by vol https://finviz.com/screener.ashx?v=211&t=AAPL,MSFT,AMZN,GOOG,GOOGL,TSLA,NVDA,PEP,COST,META,AVGO,CSCO,TMUS,TXN,ADBE,AMGN,CMCSA,HON,QCOM,NFLX,INTC,AMD,SBUX,INTU,ADP,GILD,PYPL,ISRG,AMAT,MDLZ,ADI,VRTX,REGN,BKNG,MRNA,CSX,MU,FISV,LRCX,CHTR,ATVI,KLAC,ORLY,KDP,MNST,MAR,ASML,PANW,SNPS,MELI,AEP,KHC,CTAS,ADSK,CDNS,NXPI,DXCM,BIIB,PAYX,LULU,ENPH,FTNT,MCHP,ABNB,AZN,EXC,ROST,MRVL,XEL,DLTR,EA,PCAR,ILMN,IDXX,WBA,ODFL,PDD,CTSH,CPRT,CEG,CRWD,FAST,WDAY,JD,VRSK,EBAY,SIRI,SGEN,DDOG,ANSS,VRSN,ZM,ZS,LCID,BIDU,TEAM,ALGN,SWKS,MTCH,SPLK,NTES,DOCU&ta=0&o=-volume

Energy vs. Technology 2020-2022

Energy sector (blue) is decisively outperforming Tech (orange).

Performance spread now at +23%

Jamie Dimon: don’t be surprised if the S&P 500 loses another one-fifth of its value

 (Bloomberg) -- Jamie Dimon says don’t be surprised if the S&P 500 loses another one-fifth of its value. While such a plunge would fray trader nerves and stress retirement accounts, history shows it wouldn’t require any major departures from past precedents to occur.

Judged by valuation and its impact on long-term returns, the JPMorgan Chase chief executive officer’s “easy 20%” tumble, mentioned in a CNBC interview yesterday, would result in a bear market that is in many regards normal. A decline roughly to 2,900 on the S&P 500 would leave the gauge 39% below its January high, a notable collapse but one that pales next to both the dot-com crash and global financial crisis.

The price implied in Dimon’s scenario is roughly the index’s peak from 2018, the year when President Donald Trump’s corporate tax cuts took effect and an equity selloff forced the Federal Reserve to end rate hikes. Rolling back the gains since then would leave investors with nothing over four years, a relatively long fallow period. But, given the force of the bull market that raged before then, it would cut annualized gains over the past decade only to about 7%, in line with the long-term average.

Credit Suisse May Face $8 Billion Capital Shortfall in 2024

(Bloomberg) -- Credit Suisse Group AG faces a capital shortfall of as much as 8 billion Swiss francs ($8 billion) in 2024, analysts at Goldman Sachs Group Inc. estimate, underscoring the challenges for the troubled lender as it nears what’s likely to be a deep restructuring.

At the very least, the Zurich-based firm is facing a hole of 4 billion francs, given the need to restructure the investment banking operations at a time of “minimal” capital generation, analysts led by Chris Hallam wrote. That means it would be “prudent” for the lender to raise capital.

“Credit Suisse continues to face cyclical and structural challenges,” the analysts wrote in a note, maintaining a sell recommendation on the stock.

The firm is exploring radical cuts to its volatile investment bank, including spinning off large parts and hiving off its securitized products group, as Chief Executive Officer Ulrich Koerner seeks to put an end to years of scandals and losses. Yet with a key question -- how to pay for it -- unanswered roughly two weeks before he’s due to present his plan, speculation about the lender’s financial strength has sent its shares on a rollercoaster ride.

The stock rose as much as 2% on Tuesday and was trading up 0.5% as of 1:03 p.m. local time.

While raising capital is one option under consideration, Credit Suisse executives would strongly prefer not to issue equity with the share price near record lows, Bloomberg News previously reported.

Chinese stocks

(by market cap)                        
Ticker   Company name Mkt Cap▼

1. BABA   Alibaba   219.48B; e-commerce
2. PDD  Pinduoduo  80.27B
3. JD   JD.com  79.34B
4. NTES  NetEase  51.71B
5. BIDU   Baidu  42.08B
6. NIO   Nio   23.83B; electric vehicles
7. YUMC   Yum China Holdings  20.46B; restaurants
8. BEKE  KE Holdings 19.53B; real estate services
9. ZTO   ZTO Express 19.32B; Freight & Logistics
10. LI  Li Auto  18.789B; electric vehicles
11. TCOM  Trip.com  18.77B; travel services
12. ZNH   China Southern Airlines 14.51B; airlines
13. CEA  China Eastern Airlines   11.30B; airlines
14. HTHT  H World Group  11.28B; lodging
15. XPEV   Xpeng Motors  8.82B; electric vehicles
16. BZ   Kanzhun   7.24B;   Staffing & Employment Services
17. TME  Tencent Music Entertainment  7.18B; online music entertainment platform
18. YMM   Full Truck Alliance  7.15B; digital freight platform
19. BILI  Bilibili  5.92B; electronic gaming
20. FUTU  Futu Holdings  5.47B; online brokerage services; Hong Kong
21. VIPS  Vipshop  5.40B
22. LU  Lufax Holding  5.12B; credit services
23. EDU  New Oriental Education  4.49B; for-profit education
24. WB  Weibo  3.93B; social media platform
25. ATHM  Autohome  3.84B; online destination for automobile consumers
26. DQ  Daqo New Energy  3.774B; solar power
27. ZLAB  Zai Lab   3.30B; biotech
28. GDS   GDS Holdings  3.28B; data-center operator
29. TAL  TAL Education 3.24B; for-profit education
30. CD  Chindata Group   2.91B; data centers
31. JKS  JinkoSolar  2.55B; solar power
32. QFIN  360 DigiTech  2.296B; credit services
33. MNSO  MINISO Group  1.84B; retail
34. IQ  iQIYI, Inc.  2.11B; online entertainment services; subsidiary of Baidu
35. RLX   RLX Technology  1.46B; e-vapor company
36. DADA   Dada Nexus  1.31B; retail
37. FINV  FinVolution Group  1.31B; credit services
38. NOAH  Noah Holdings  1.09B; asset management
39. HOLI  Hollysys Automation Technologies   1.07B; automation control systems
40. MOMO  Hello Group Inc. 986.54M; online entertainment services
41. NAAS  NaaS Technology  788.11M; electric vehicle (EV) charging services
42. DDL  Dingdong 778.85M; e-commerce
43. VNET  VNET Group 759.36M; data centers
44. RENN  Renren  749.29M; software—application
45. ZH  Zhihu  699.32M; online content company
46. YSG  Yatsen  639.11M; beauty products maker
47. SOHU  Sohu.com  555.29M; mobile gaming
48. TUYA  Tuya Inc.   552.33M; Internet of Things (IoT) cloud platform
49. CAN  Canaan   549.84M; bitcoin mining equipment maker
50. DAO  Youdao  534.11M; search engine released by NetEase
51. HUYA   HUYA Inc.  531.07M; mobile gaming
52. RERE  ATRenew  519.16M; ecommerce
53. KC  Kingsoft Cloud  512.88M; cloud services
54. TIGR  Up Fintech  505.11M; online brokerage services
55. API  Agora  395.12M; software tools
56. GOTU  Gaotu Techedu 303.354M; for-profit education

Others

• riding-hailing outfit Didi Global (DIDI), 

China Stock Investing Via ETFs

KraneShares CSI China Internet ETF (KWEB) tracks major Chinese internet companies. Many Chinese stock holdings in the KWEB ETF are U.S. listed or traded, such as Alibaba stock, JD.com, Tencent, Pinduoduo and Bilibili, but KWEB also holds companies listed on Chinese markets. Direxion Daily FTSE China Bull (YINN) is a three-times-leveraged ETF of the 50 largest companies listed in Hong Kong, including Alibaba, JD.com and Tencent stock, but its biggest weights are in financials. (The Direxion Daily FTSE China Bear (YANN) is a three-times-leveraged ETF shorting Hong Kong's biggest companies.) 

Other OTC:

• TCEHY  Tencent  330.16B; technology and entertainment conglomerate
• BYDDF  BYD Co.  91.75B; electric vehicles

High-dividend ETFs

Dividend ETFs offer instant diversification and potential income. 

Symbol	ETF name	Annual dividend yield
XLE	Energy Select Sector SPDR Fund	3.75%
SCHD	Schwab US Dividend Equity ETF	2.83%
VYM	Vanguard High Dividend Yield Index ETF	2.69%
VXUS	Vanguard Total International Stock ETF	2.46%
VEA	Vanguard FTSE Developed Markets ETF	2.41%
EFA	iShares MSCI EAFE ETF	2.22%
IEFA	iShares Core MSCI EAFE ETF	2.21%
VWO	Vanguard FTSE Emerging Markets ETF	2.17%
VTV	Vanguard Value ETF	2.10%
IEMG	iShares Core MSCI Emerging Markets ETF	1.88%
IWD	iShares Russell 1000 Value ETF	1.57%
VIG	Vanguard Dividend Appreciation ETF	1.53%
XLV	Health Care Select Sector SPDR Fund	1.36%
IVV	iShares Core S&P 500 ETF	1.25%
VOO	Vanguard S&P 500 ETF	1.24%
VTI	Vanguard Total Stock Market ETF	1.19%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	1.17%
VO	Vanguard Mid-Cap ETF	1.12%
VB	Vanguard Small Cap ETF	1.10%
IJR	iShares Core S&P Small-Cap ETF	1.06%
IJH	iShares Core S&P Mid-Cap ETF	1.05%
IWM	iShares Russell 2000 ETF	0.84%
VGT	Vanguard Information Technology ETF	0.63%
IWF	iShares Russell 1000 Growth ETF	0.50%
VUG	Vanguard Growth ETF	0.49%

Data current as of Nov. 1, 2022