Was today a turnaround? 0.8% in the SPX is nice and hopefully it is a turnaround but I don't know.
To be clear I am no David Tice or Bill Fleckenstein, both of whom I have never heard be bullish. If I think things look good I say so and if I think things look bad I say so, right or wrong.
If anything I want the market to go higher. The defensive action I have taken so far was really just raising a little cash. Generically* speaking, client accounts are up 5.8% YTD and the SPX is down 2.08% YTD. As I think things have deteriorated I would not be upset if, from here, some of the lead evaporates, meaning if I only got 4% of the next 5% up I'd be fine with that. Today the generic was up 0.6% whle the SPX was up 0.8%.
* I maintain a generic account of client holdings on Yahoo Finance that gives me a good idea of where I stand. Some clients have done a little better and some have done a little worse as no two accounts are identical, overlap yes but identical no.
Wikinvest Wire
5 comments:
Can we see this generic account?
Pretty please!
Heh--I'd even send another 11.77 to the fire crew!
Hi - Thanks for a great Blog!
Is it possible to show the magic number (Generic portfolio performance) regularly - say weekly or monthly or..
-Rick
Hi Roger,
Glad to see you're doing well despite the market. If we get a pop monday/tuesday you'll be doing a lot better.
I feel the markets made an important low on thursday, maybe a significant one. Monday or tuesday's action will tell for sure. An intraday print of about 2099 in the NAZ and 1195 in the S&Ps will confirm. Have a great week! Tony
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I'm a newbie who's managing my mom's 401k. It's up about 2.5% ytd. That reflects all asset classes in her "pie chart". It's around 40% divided between a money market and a bond fund; 50% divided among various domestic equity funds, mostly large cap growth and value with a smidgen of small-mid cap exposure; remaining 10% in international equities.
My mom's 401k sucks. She has only one fund option per asset class ... and they threw in an index fund (s&p benchmark with relatively high fees). However, her company has a 5% match, so I guess her return is actually 7.5%.
Where does 2.5% ytd return (across all asset classes) fall on the asset management bell curve?
Also, how do I know when to listen to equity economists and when to listen to bond economists? Is it ever obvious who has the stronger argument?
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