Portfolio Breakdown:
KFN - 57%
YRI - 6%
PHM - 11%
BAC - 17%
PRGN - 12%
APP - 16%
CAD Cash - (4%)
USD Cash - (15%)
USD/CAD - 1.084
Portfolio Performance:
Return Since Last Update - 15.32%
Return Since Inception - 17.41%
S&P 500 - 979.26
S&P 500 Return (June 30) - 6.57%
Friday, July 24, 2009
Friday, July 17, 2009
Steady as She Goes...
The broad market is looking surprisingly strong given the length of the current upward trend. The confluence of decent economic data in the US and a healthy majority of earnings surprises have set a floor of support under this market. According to cnbc.com: "Of the 55 S&P 500 companies who have reported, 71% beat estimates, 9% were in-line, and 20% were below estimates".
If this trend holds true, I would expect to see the S&P 500 move towards 1000; however, I would keep an eye on the value of the market in relation to forward looking economic indicators. The data I have seen thus far seems to point towards a relief in consumer expectations, but has not yet translated into such things as business inventories. The fact that the job market seems to have slowed in its pace of declines and housing starts and sales may have bottomed are both positive signs of fundamental base building.
I have at this time no shorts in my portfolio, although I am long gold which serves as a correlation and currency hedge in my portfolio. I am currently heavily skewed towards KFN, mainly because the stock's drift downwards on low volume may present an attractive short term trading opportunity given my opinion on its short term prospects. However, as it stands now I am pleased with my portfolio's level of diversification and the mix I have built to capitalize on the growth in early cyclical sectors.
Portfolio Breakdown:
KFN - 48%
YRI - 8%
PHM - 12%
BAC - 21%
DD - 13%
PRGN - 13%
APP - 16%
CAD Cash - 0%
USD Cash - (31%)
Portfolio Performance:
Return Since Last Update - 12.70%
Return Since Inception - 1.81%
S&P 500 - 940.38
S&P 500 Return (June 28) - 2.34%
If this trend holds true, I would expect to see the S&P 500 move towards 1000; however, I would keep an eye on the value of the market in relation to forward looking economic indicators. The data I have seen thus far seems to point towards a relief in consumer expectations, but has not yet translated into such things as business inventories. The fact that the job market seems to have slowed in its pace of declines and housing starts and sales may have bottomed are both positive signs of fundamental base building.
I have at this time no shorts in my portfolio, although I am long gold which serves as a correlation and currency hedge in my portfolio. I am currently heavily skewed towards KFN, mainly because the stock's drift downwards on low volume may present an attractive short term trading opportunity given my opinion on its short term prospects. However, as it stands now I am pleased with my portfolio's level of diversification and the mix I have built to capitalize on the growth in early cyclical sectors.
Portfolio Breakdown:
KFN - 48%
YRI - 8%
PHM - 12%
BAC - 21%
DD - 13%
PRGN - 13%
APP - 16%
CAD Cash - 0%
USD Cash - (31%)
Portfolio Performance:
Return Since Last Update - 12.70%
Return Since Inception - 1.81%
S&P 500 - 940.38
S&P 500 Return (June 28) - 2.34%
Monday, July 6, 2009
First Week
The first week since the inception of my portfolio has passed; let's see the results thus far...
Portfolio Breakdown:
KFN - 43%
YRI - 8%
PHM - 12%
BAC - 23%
DD - 14%
PRGN - 13%
APP - 18%
CAD Cash - 5%
USD Cash - (36%)
Portfolio Performance:
Return Since Last Update - (9.64%)
Return Since Inception - (9.64%)
S&P 500 - 898.72
S&P 500 Return (June 28) - (2.20%)
Portfolio Breakdown:
KFN - 43%
YRI - 8%
PHM - 12%
BAC - 23%
DD - 14%
PRGN - 13%
APP - 18%
CAD Cash - 5%
USD Cash - (36%)
Portfolio Performance:
Return Since Last Update - (9.64%)
Return Since Inception - (9.64%)
S&P 500 - 898.72
S&P 500 Return (June 28) - (2.20%)
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