| : Ʒ Ư ũ(valuewalk.com) 2023 2 15 Դϴ. ֽĿ ǰ Դϴ. Ǵܿ å ο ֽϴ.
ʰ ߴ. ̴ 鿡Դ 繵 Ž ̾ ̴. , ۳ ظ Ŀ п ̷ ʴ´. Ȳ ߴ. ڵ ۳ ༼ ɼ Ƶ ʰ ִ. ̵ ֽĽ ξ ϶ ȮѴ. ̵ ÷̼ ʹ , ӵ ħü , غ ݸλ ʾҴ١ ϴ .
̵ ̷ ϴ Ҹϴ. , . ǻ ڵ Ȱ ϰ , ־ ̹ ݿ ݿǾ ִ.
Ÿڷμ پ 忡 ٴ ֽİ Ÿ ڻ װ ϴ 캸 ̴.
ϰ ִ ڷ ְ ִ. ϰ, ߰ؾ 6 ֽ Ұϵ ϰڴ.
ְ ִֵ?
• Ȳ ´ ִֵ ϱ?
ȯ(rotation)̶ ̴. ȯ ڵ ֽĽ ι ٸ ι ڱ ű Ѵ. ̸ ȯ̶ ϴ Ϲ ڱ α ִ 鿡 ó 귯 (ȯϱ) ̴.
Ϲ ڱ ༼ Ⱓ ƿƼ, コɾ, ʼҺ 귯 , Ⱓ ֿ ǼҺ ֽĵ 귯 ִ.
, ֽĵ ֵϰ ְ ֽĵ ó ִ , Ȳ ִ.
̷ 鿡 , ݱ Ȳ ֽĵ ȸϴ Դ. Ʒ S&P 500 ϰ ִ 11 Ÿ ̴.
(2023 S&P 500 11 )

ݱ ְ ø(NASDAQ--NFLX), Ÿ ÷(NASDAQ--META) Ե ż(NYSEARCA--XLC) Ȩ(NYSE--HD) Ű(NYSE--NKE) Ե ǼҺ(NYSEARCA—XLY) ̴. 18.6% 17.5% ߴ. ְ 2023 ū ڰ ̶ ִµ, ݵ ̷ .
ݴ, ݱ ־ ʼҺ(NYSEARCA--XLP), コɾ(NYSEARCA--XLV), ƿƼ(NYSEARCA--XLU) ̴. ռ ̵ ̸, ڵ ֽĽ̳ ̷ ֽ ִ. ̷ ʰ ִ. ڵ ǼҺ , ۳ ũ ϶ߴ ָ żϰ ִ.
̴ ũ δϴ ڻ ȣ ൿε, ̴ Ȯ 忡 ִ ̴.
• ֵ .
ִ ϰ ִ Ѵ. ̵ ϰ , Ϻδ Ŀ ȯ ϴ. ̵ ÷̼ǰ ݸ¿ ſ ΰϴ.
ִ ü ġ ξ 2021 ƴ. ڵ ġũ ǥ ϴ ũ ̳뺣̼ ETF(ARK Innovation ETF: NYSEARCA--ARKK) S&P 500 10 ռ2021 2 ϶ϱ ߴ. , ִ ÷̼ǰ ݸλ ٰ ִٴ ٸ ι ξ ˾ë.
, ݴ ִ. ֵ ֵϰ ִ ̴.
Ʈü (Intapp: NASDAQ--INTA) , 9 115% ߴ.
(: 9 115% )

ֵϰ ִ ٸ Ʈ4 ̸Ʈ(Shift4 Payments: NYSE--FOUR) 11 86% ߴ.
(Ʈ4 ̸Ʈ: 11 86% )

ٸ (Shopify: NYSE--SHOP) 10 112% ߴ.
(: 10 112% )

۳ ũ ϶ߴ ٸ ֵ鵵 ٽ ¼ ȯߴ. ֵ ߿ 6 ϰ ִ ̴.
• ÿ(Freshworks: NASDAQ--FRSH): Saas ַ
• ھũ(Procore Technologies: NYSE--PCOR): Ŭ Ǽ Ʈ
• ö̿̾(Flywire: NASDAQ--FLYW): ۷ι Ʈ
• Ű̵(Riskified: NYSE--RSKD): ڻŷ ַ
• ÷Ʈ(Confluent: NASDAQ--CFLT):
• Ŀ´̼ǽ(Weave Communications: NYSE--WEAV): ұ Ŀ´̼ Ʈ ÷
ʿ Ұ , ϰ ϴ ֵ 1 ó ¼ ̰ ִٴ ̴. ̴ 츮 Ȳ ִ ش.
༼ ο ۵Ǿٴ 1 Ǵ Ѵ.
ص, ϰ ƴϸ, ְ ༼ ڽ ϴ ֽ ߰ ż Ѵ. 1 ־ ū Ͻ ϶ ̰ ǰ ̴. <>
* ó: ƾ Ʋ, <ũ(RiskHedge)>, ְ Ÿå(Chief Trader), "The Truth No One Wants To Hear About Stocks," 2023 2 15, https://www.valuewalk.com/the-truth-no-one-wants-to-hear-about-stocks/