Auxier Asset Management, an investment advisory firm, released its first quarter 2026 investor letter. A copy of the letter is available to download here. Following a robust start to the year, the market was impacted by the Strait of Hormuz crisis. Concerns over AI disruption, excessive stock-based compensation, and high valuations caused the technology sector to decline, making it the worst-performing S&P 500 sector for the quarter. The conflict in Iran pushed energy prices higher, making the energy sector the top performer. Value stocks outperformed growth stocks, with the Russell 1000...
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