2023 was a great year for investors. However, those who favored the Dow Jones Industrial Average (DJINDICES: ^DJI) over broader indexes weren't necessarily as happy, as the Dow's 14% rise trailed much more lucrative returns for the Nasdaq Composite and S 500.

For value-seeking investors, 2023 was even more disappointing. In particular, those following the popular strategy known as the Dogs of the Dow had to struggle through another year of underperforming the Dow and other major market indexes.

Here, you'll learn more about why the Dogs of the Dow didn't live up to their reputation in 2023 -- as well as why some investors are more optimistic about how 2024 could go.

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Source Fool.com