November is behind us — and it was a very volatile month. The big question on everyone’s mind was: are we in an AI bubble? 🫧😰 And when that question comes up, many investors sell first and think later. 📉
This kept pressure on tech for most of the month. There was a small rebound near the end, but many stocks still finished November lower.
How did our portfolios perform this month? Which stocks held up best — and what moves did we make? Check it out in our November recap 👇
📢 We’re sharing our December Best Buys at the beginning of next week — keep an eye on your inbox! 🚀
What Moved the Markets in November?
November was one of the most volatile months of the year. Mid-month, markets were sharply lower — with the Nasdaq down almost 10%, and many tech stocks falling even more. Software, semiconductors, AI-related names and the more speculative stocks saw the biggest drops.
Worries about a possible AI bubble played a big role. Michael Burry added to this fear by saying the hype was getting too big and later shutting down his fund. This pushed many tech stocks lower and made investors more careful this month.
Nvidia posted very strong Q3 results, but the stock still had a difficult month. Google made quick progress with its TPU chips, and this raised the idea that Nvidia’s lead in AI chips could become smaller over time. Nobody knows if that will happen, but the idea alone influenced how investors looked at the stock in November.
It was also the month of Google. With the launch of Gemini 3, Google delivered very strong AI performance. Six months ago, many thought Google was falling behind — now it is seen as one of the leaders again. News that Warren Buffett had opened a position in Alphabet gave the stock an extra boost. By the end of November, Google had become the 3rd largest company in the world, moving ahead of Microsoft.
There were a few other major moments this month:
AMD said at its Analyst Day that the global data center market could reach $1 trillion by 2030.
Eli Lilly became the first healthcare company in history to reach a $1 trillion valuation.
In the final days of the month, markets recovered part of the earlier losses. Still, many tech stocks ended November with clear declines.
Let’s take a quick look at how the markets performed in November:
S&P 500: +0.1% 📈 (+16.5% YTD)
Nasdaq: -1.5% 📉 (+21.0% YTD)
Dow Jones: +0.3% 📈 (+12.2% YTD)
Portfolio Performances: How Did We Do?
How did our portfolios perform in November?
Let’s take a closer look at how we compare to the S&P 500, Nasdaq, and Dow Jones — plus our best performers and the moves we made this month.
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