Unprofitable growth companies keep grinding lower in 2022.
This brutal bear market for once-high-flying stocks is a painful dose of cognitive dissonance for those who are used to easy gains on what they consider to be exciting companies.
Today, rather than cutting-edge technologies like artificial intelligence leading markets, boring is the new black. Distinctly unexciting companies such as H&R Block HRB (taxes), McKesson MCK (pharmaceuticals) and CVR Energy CVI (oil refining) are posting spectacular returns for investors, including those at the Frank Value Fund FRNKX.