Madison Investments, an investment management firm, released its “Madison Investments U.S. Equity Strategy” Q4 2023 investor Letter. In 2023, the US stock market experienced a positive year. The S&P 500 Index ended 2023 up 26.3%, having recovered all of its 2022 decline and a little bit more. The year’s most notable feature was the glaring concentration of returns in the Magnificent Seven. With an average annual return of 111.7%, these seven megacap technology firms accounted for...
