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Buying the best stocks of last year, does it work?

7/9/2014

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In December of 2013, I looked at the 30 best stocks of the year to see what they had in common. I was pretty curious how they have done since the start of the year, because I am an advocate of momentum investing. The results don't look good, their performance as a group has lagged the index for in 2014:
Ticker         Name                                                                                     Industry                                    Gain in 2013    YTD gain   Mkt cap
AAMC
PTCT
ZHNE
CSIQ
CNIT
GSAT
CRRS
GTN
LCI
IQNT
LBMH
RVLT
MEG
INSY
HIMX
ACAD
NXST
CHTP
SPWR
DL
GENT
CMGE
BCOM
KERX
PBYI
XRM
ROIA
BCRX
ADEP
PSIX
Altisource Asset Management 
PTC Therapeutics, Inc.
Zhone Technologies Inc.
Canadian Solar Inc.
China Information Technology, 
Globalstar Inc.
Corporate Resource Services
Gray Television Inc.
Lannett Company, Inc.
Inteliquent, Inc.
Liberator Medical Holdings
Revolution Lighting Technologies.
Media General, Inc.
INSYS Therapeutics, Inc.
Himax Technologies, Inc.
ACADIA Pharmaceuticals, Inc.
Nexstar Broadcasting Group Inc.
-
SunPower Corporation
China Distance Education Holdings
-
China Mobile Games and Entertainment
B Communications Ltd
Keryx Biopharmaceuticals Inc.
Puma Biotechnology, Inc.
Xerium Technologies Inc.
Radio One Inc.
BioCryst Pharmaceuticals, Inc.
Adept Technology Inc.
Power Solutions International, Inc.
Asset Management
Biotechnology
Communications
Semiconductor
Application Software
Wireless Communications
Staffing & Outsourcing
Broadcasting - TV
Drug Manufacturers
Wireless Communications
Medical Instruments
Diversified Electronics
Broadcasting - TV
Biotechnology
Semiconductor 
Biotechnology
Broadcasting - TV
-
Semiconductor 
Education & Training
-
Software
Communications
Biotechnology
Biotechnology
Diversified Machinery
Broadcasting - Radio
Biotechnology
Diversified Machinery
Diversified Machinery
1162%
1072%
881%
757%
655%
516%
509%
501%
495%
488%
479%
430%
429%
420%
416%
402%
401%
399%
397%
391%
390%
388%
378%
377%
376%
364%
360%
351%
350%
345%

-31%
48%
-46%
-7%
-25%
54%
-4%
-14%
38%
24%
-15%
-24%
-6%
10%
-57%
-14%
-9%
-
24%
-8%
-
-41%4%
16%
-36%
-16%
22%
53%
-43%
-17%
1434
753
93
1525
160
2872
399
731
1621
453
185
217
1880
973
1083
2134
1547
-
4843
599
-
467
541
1376
1985
213
220
835
125
671
If I bought or held the best stocks of 2013 also into 2014, my YTD return would be around -4.3%, which is lower than the S&P 500s 6.7% return. As you can see, 18 of the original 30 stocks went down this year, and 2 were bought out in acquisitions. So far it looks like buying the best stocks of the previous year is not a great idea, will see how they do for the rest of 2014. However, momentum investing (buying stocks at new highs) still works, provided you buy good undervalued growth stocks and use proper risk management.
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