Tag Archives: Investment Performance

OUR MARCH RESULTS

Our weighted average return in March was +0.68% bringing our YTD return to +5.08% (net of all fees).

In March, many of the Trump trades (financials, cyclicals, small caps) got hurt as it turned out that not all Republicans are ready to repeal Obamacare, much less replace it with Trump’s “World’s Greatest Healthcare Plan of 2017” (yes, this was the actual title!).  The failure to pass this new bill cast doubt on just how united the Republican majority actually is, and undermined the market’s confidence in Trump’s ability to push through tax reforms.

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Amazon reaches new highs

It seems that Amazon is unstoppable. Of course it isn’t but it may seem so.

There are plenty of articles that help Amazon go even higher, such as:

It’s most ambitions sports deal to date Amazon wins streaming rights to 10 NFL games

Amazon launches Amazon Cash, a way to shop its site without a bank card Link

Also, absence of bad press helps.

We’ve been writing about Amazon for quite some time and perhaps mentioning it too often. It’s been very profitable position for our clients and we’re still bullish.

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How Most Investors Underperform The Market

In our January commentary we wrote:

Although we have been taking profits on some of our high-flying stocks, we do not intend to try to time the market by selling stocks that we like in the hope of buying them back more cheaply in the future. This is called being ‘cute’. ‘Cuteness’ is the domain of babies and puppies, not investment managers.

We continue to abide by what we wrote.

LINK: Our January Results

However, it seems as if cutting and running is a huge problem for retail investors. Panic induced selling leads to missing returns as markets recover and trade higher.

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OUR FEBRUARY RESULTS – STILL A GREAT START TO 2017

OUR FEBRUARY RESULTS – STILL A GREAT START TO 2017

Our weighted average return in February was +1.95%, bringing our YTD return to +4.38% (net of all fees).

Many of the themes that we wrote about last month are still very much in play. Biotech continues to deliver and so too do our investments in robotics. Our European investments also had a good month and our bonds continue to deliver steady returns.

The ongoing flow of positive economic data from the US will probably result in further tightening from the US Fed in March. Economic data in Europe is also picking up. Inflation in Germany is at + 2.2%. If this continues, how long can the ECB leave rates at 0%? Whomever answers this question most accurately will make a lot of money. We do not know when rates in Europe will rise, but are aware of the fact that this could be sooner than most people think.

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Our December, Year End and Two Year Results

We are pleased to announce that our weighted average return in December was +1.81%, resulting in an annual return of +11.05% for 2016 (net of all fees).

dec-ytd

December was a decidedly less eventful and more prosperous month than November. Both equity and bond markets were considerably less volatile than during November’s post-US election madness and US equity indices powered to new highs. As expected, the US FED did indeed raise rates and signaled that there could be up to three rate hikes in 2017.

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