The bull market in US equities in 2019 was one of the best in recent years. However for many folks it did not feel like a bull market because stocks heavily in the last quarter of 2018. In addition, not all sectors participated in the roaring. For instance, energy stocks never recovered to their greatness and continue to struggle. Some of the sectors soared. The PHLX Semiconductor Index shot by over 60% with some US semiconductor stocks such as Cirrus Logic(CRUS), Advanced Micro Devices(AMD), Lam Reseearch(LRCX), etc. more than doubling in their prices.

Among the foreign semiconductor stocks trading on the US markets trading as ADRs the following were notable for their returns:

STMicroelectronics (STM) – 94%

ASML (ASML) – 90%

Semiconductor Manufacturing International (SMI) – 77%

Taiwan Semiconductor Manufacturing (TSM) – 57%

With that said, let’s review some of the interesting articles from around the web:

• Our 2020 outlook (Vanguard)
• In German: 2 tips: invest patiently, scatter worldwide (Tim Schaefer) – Use Google Translate
• Latin America’s ‘Oasis’ Descends Into Chaos (WSJ)
• How a shocking 2019 unfolded for Neil Woodford and his stricken investors (CityWire)
• The 10 Very Best European Movies on Netflix and 12 Best Foreign Movies on Netflix You Have to Watch (AGoodMovieToWatch.com)
• Top 20 Blockbuster Cancer Drugs (The Balance)
• The Tortoise and the Hare: The Case for Dividend Growth (Man Institute)
• 75% of S&P 500 Returns Come From Dividends: 1980-2019 (GFM Asset Management)
• Here’s why a rough patch for battered oil stocks may be about to come to an end in 2020 (Marketwatch) and The great oil boom and bust: American shale’s amazing, world-changing, lousy decade (Financial Post) and U.S. energy shareholders seek to leave (Reuters)

The Roman Forum, Rome, Italy