A Complete Game | Steve Henderly, CFA
Printer Friendly PDF: November 2025 Commentary
Scottie Scheffler’s recent run of dominance on the PGA Tour offers a lesson for investors. His average driving distance is 303 yards! As impressive as that sounds to mortal golfers like ourselves, you might be surprised to learn that stat ranks him 70th among his professional peers! While long, powerful drives grab headlines, it’s the rest of his game that sets Scottie apart. It’s his approach shots, short game, and putting which keeps him near or at the top of leaderboard. Monster drives are flashy, but to win tournaments, a more balanced and complete game is usually required. The same could be said of today’s markets. The “Mag 7” continue to drive the major index averages, while the rest of clubs in the “golf bag” – small caps, cyclicals, and international stocks – are struggling to keep pace. Like a golfer relying too heavily on one club, the market’s performance is presently being carried by only the long hitters.