Follow LA Observed on Twitter here
Almost half of that came in the last month of the year when the index gained 5.2 percent. Equities fared a lot better in 2010 than the economy, which raised the obvious question as to whether the rally was for real. By the end of the year, most everyone had become convinced that it was - so many, in fact, that some of the smart money now expects a sell-off at the beginning of the New Year. From the WSJ:
While 2010 was positive for stocks, it was anything but smooth. Investors were spooked by events such as the May 6 "flash crash" and ongoing worries over the financial health of several euro-zone governments. A new $600 billion stimulus plan from the Federal Reserve and improving economic data helped the market recover from a summer slump, with stocks ultimately reaching highs not seen since before the fall of Lehman Brothers in 2008. "The year, it was kind of like a long road trip," said Lawrence Creatura, manager of the Federated Clover Small Value Fund. "It wasn't always comfortable, but the destination was worth it."
Below are annual returns for a bunch of locally based companies. As you can see, most of them wound up on the plus side in 2010, some by large amounts.
--Occidental Petroleum +22.7%
--Walt Disney +17.6%
--Amgen -2.9%
--Public Storage +28.5%
--Acitivision Blizzard +13.5%
--Edison International +15%
--HCP +27.5%
--Mattel +31.4%
--Macerich +38.6%
--Jacobs Engineering +21.9%
--CB Richard Ellis +50.9%
--Avery Dennison +18.8%
--Guess +18.6%
--Alexandria Real Estate Equities +16.4%
--Herbalife +71.5%
--Reliance Steel +19.3%
--City National +35.6%
--Aecom Technology +1.7%
--DreamWorks Animation -26.2%
--HealthNet +17.2%
--Wesco Financial +7.9%
--Mercury General +15.9%
--East West Bancorp +24%
--VCA Antech -6.5%
--Live Nation +34.2%
--Douglas Emmett +19.4%
--Skechers -32%
--Kilroy Realty +24.1%
--Teledyne Technologies +14.6%
--PS Business Parks +15%
--Cheesecake Factory +42%
--International Rectifier +34.2%
--UTI Worldwide +48.7%
--Tetra Tech -7.8%
--99 Cents Only Stores +21.9%
--Semtech +33.1%
--J2 Global +42.2%
--KB Home +0.4%
--Dole +8.9%
--Lions Gate +12%
--ValueClick +58.4%
--Anworth Mortgage +14.6%
--Cathay General +122%
--Tutor Perini +23.6%
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.