O/t, Jeremy Grantham, but don't panic,

After A Timeout, Back To The Meat Grinder! | Seeking Alpha

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the damage in a single year to broadly diversified stock/bond portfolios is the worst in nearly a century.

Is that really true? Isn’t he dramatically exaggerating?

(Portfolio is up, but admittedly holding practically only BRK is not “broadly diversified”.)

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Good morning, I have read and heard that the traditional 60-40 portfolio had its worst year in many decades, maybe even 100 years. Those of us who are overweight brk did a lot better. Let’s see what 2023 brings?


There’s no doubt about it: Last year was a rough one for diversified stock/bond portfolios…

On the stock side of the equation, the Morningstar US Market Index fell 19.4% in 2022 for its biggest loss since 2008. Meanwhile, the Morningstar US Core Bond Index had the worst year in its history, down 12.9%.

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Maybe I’ve gotten better at investing, or more likely have just gotten more conservative.
Our portfolio contains stocks, bonds and CDs.
We were down about 11% in 2022,
better than the 34% loss in 2008 or the 20% loss we had in 2002.

Still finding it hard to believe 2022 was worse than 2008.
Maybe crypto-currencies and some of the large tech was the reason.


Here’s a good Damodaran post that explains why Grantham said what he said about 2022 broadly diversified stock/bond portfolios.

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