Last week was another disappointing week for the markets in general, and for IT names in particular. Although our high-growth portfolio did manage to appreciate by 1.8%, it is still down by more than 25% so far this year, and by 21% since 8/20/21. Those results are more or less consistent with the overall tech ETF, the IGV, which lost 2% last week and has lost about 20% since the start of the year, and 22% since last August. The World Cloud ETF broke even last week, but it has lost 26% since the start of the year and has lost 32% since August 20th of last year.
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