𝗪𝗲’𝗿𝗲 𝗵𝗲𝗮𝗱𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗵𝗼𝗹𝗶𝗱𝗮𝘆 𝘀𝗲𝗮𝘀𝗼𝗻 𝗮𝗻𝗱 𝗲𝗻𝗱-𝗼𝗳-𝘆𝗲𝗮𝗿 𝗽𝗲𝗿𝗶𝗼𝗱 𝗮𝘁 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿’𝘀 𝗮𝗻𝗱 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗮𝗹𝗹-𝘁𝗶𝗺𝗲 𝗵𝗶𝗴𝗵𝘀 𝗳𝗼𝗿 𝗺𝗮𝗷𝗼𝗿 𝗲𝗾𝘂𝗶𝘁𝘆 𝗶𝗻𝗱𝗶𝗰𝗲𝘀. 𝗦𝗼𝘂𝗻𝗱𝘀 𝘂𝗻𝘁𝗵𝗶𝗻𝗸𝗮𝗯𝗹𝗲 𝗴𝗶𝘃𝗲𝗻 𝘁𝗵𝗲 𝗿𝗼𝗹𝗹𝗲𝗿𝗰𝗼𝗮𝘀𝘁𝗲𝗿 𝗿𝗶𝗱𝗲 𝘄𝗲’𝘃𝗲 𝗮𝗹𝗹 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝗱 𝗶𝗻 𝟮𝟬𝟮𝟬. 𝗙𝘂𝗻𝗻𝘆 𝗮𝘀 𝗶𝘁 𝗴𝗲𝘁𝘀 𝘁𝗵𝗲 𝗺𝗼𝘃𝗲𝘀 𝗮𝗿𝗲 𝘀𝘁𝗮𝗯𝗹𝗲 𝗶𝗻 𝘀𝘂𝗰𝗵 𝗮 𝘄𝗮𝘆 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗙𝗲𝗮𝗿&𝗚𝗿𝗲𝗲𝗱 𝗳𝗮𝗰𝘁𝗼𝗿 𝗰𝗼𝗿𝗿𝗲𝗰𝘁𝗲𝗱 𝗮𝗴𝗮𝗶𝗻 𝘁𝗼 𝟲𝟯 𝗽𝘁𝘀. Markets continue to…
𝘼 𝙨𝙡𝙞𝙜𝙝𝙩𝙡𝙮 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙫𝙚 𝙬𝙚𝙚𝙠 𝙗𝙚𝙝𝙞𝙣𝙙 𝙪𝙨. 𝙏𝙝𝙚 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙤𝙣 𝙬𝙖𝙨 𝙖𝙘𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙙 𝙬𝙞𝙩𝙝 𝙖 𝙡𝙞𝙩𝙩𝙡𝙚 𝙩𝙞𝙡𝙩 𝙩𝙤𝙬𝙖𝙧𝙙𝙨 𝙂𝙧𝙤𝙬𝙩𝙝 𝙛𝙧𝙤𝙢 𝙩𝙝𝙚 𝙧𝙚𝙘𝙚𝙣𝙩𝙡𝙮 𝙞𝙣-𝙫𝙤𝙜𝙪𝙚 𝙑𝙖𝙡𝙪𝙚 𝙨𝙩𝙤𝙘𝙠𝙨. 𝙁𝙞𝙨𝙘𝙖𝙡 𝙩𝙖𝙡𝙠𝙨 𝙨𝙚𝙚𝙢 𝙩𝙤 𝙗𝙚 𝙣𝙚𝙫𝙚𝙧 𝙚𝙣𝙙𝙞𝙣𝙜 𝙣𝙤𝙬 𝙖𝙣𝙙 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧𝙨 𝙨𝙩𝙞𝙡𝙡 𝙜𝙚𝙩 𝙣𝙤 𝙙𝙚𝙖𝙡 𝙤𝙣 𝙖 𝙣𝙚𝙬 𝙨𝙩𝙞𝙢𝙪𝙡𝙪𝙨. 𝘾𝙤𝙫𝙞𝙙-𝟭𝟵 𝙘𝙖𝙨𝙚𝙨 𝙖𝙧𝙚 𝙨𝙩𝙞𝙡𝙡 𝙤𝙣 𝙩𝙝𝙚 𝙧𝙞𝙨𝙚 𝙞𝙣 𝙜𝙚𝙣𝙚𝙧𝙖𝙡 𝙥𝙪𝙩𝙩𝙞𝙣𝙜 𝙥𝙧𝙚𝙨𝙨𝙪𝙧𝙚 𝙤𝙣 𝙨𝙝𝙤𝙧𝙩-𝙩𝙚𝙧𝙢 𝙤𝙥𝙩𝙞𝙢𝙞𝙨𝙢. Equity…
𝙏𝙝𝙚 𝙢𝙖𝙧𝙠𝙚𝙩𝙨 𝙠𝙞𝙘𝙠𝙚𝙙 𝙤𝙛𝙛 𝘿𝙚𝙘𝙚𝙢𝙗𝙚𝙧 𝙤𝙣 𝙖 𝙥𝙤𝙨𝙞𝙩𝙞𝙫𝙚 𝙣𝙤𝙩𝙚, 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙞𝙣𝙜 𝙬𝙝𝙖𝙩’𝙨 𝙪𝙨𝙪𝙖𝙡𝙡𝙮 𝙘𝙖𝙡𝙡𝙚𝙙 𝘾𝙝𝙧𝙞𝙨𝙩𝙢𝙖𝙨𝙨 𝙧𝙖𝙡𝙡𝙮 𝙗𝙧𝙤𝙖𝙙𝙡𝙮. 𝙈𝙖𝙟𝙤𝙧 𝙩𝙝𝙚𝙢𝙚𝙨 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙚𝙙 𝙬𝙞𝙩𝙝 𝙤𝙡𝙙 𝙚𝙘𝙤𝙣𝙤𝙢𝙮 𝙨𝙩𝙤𝙘𝙠𝙨 𝙡𝙚𝙖𝙙𝙞𝙣𝙜 𝙜𝙖𝙞𝙣𝙨. 𝙂𝙤𝙡𝙙 𝙛𝙤𝙪𝙣𝙙 𝙜𝙧𝙤𝙪𝙣𝙙 𝙖𝙨 𝙬𝙚𝙡𝙡 𝙖𝙛𝙩𝙚𝙧 𝙖 𝙩𝙬𝙤-𝙬𝙚𝙚𝙠 𝙙𝙧𝙤𝙥. 𝙍𝙞𝙨𝙠-𝙤𝙣 𝙩𝙤𝙣𝙚 𝙥𝙪𝙩 𝙥𝙧𝙚𝙨𝙨𝙪𝙧𝙚 𝙤𝙣 𝙩𝙝𝙚 𝘿𝙤𝙡𝙡𝙖𝙧. So here we are in Dec 2020 still in what so far has been…
In this post I shortly describe the November rebalancing of the SIA-style Pension Portfolio (PP). For a detailed review of the most important market developments for November 2020 please refer to my Global Leaders Portfolio (GLP) rebalancing here. The rebalance The usual monthly injection of $1k was used to purchase GLD. SPY and EEM holdings were…
In this post I explain major drivers for both the global markets and our Global Leaders Portfolio (GLP) for November 2020. Then I move on to a short reminder of how we’re going to proceed once we enter the new phase of the economic cycle once it comes and how the nature of the portfolio…
This week was Thanksgiving week for US markets. Activity was somewhat subdue because of that around mid-week. But in general equities did just well, unlike safe havens like Gold. The risk is on. After last’ weeks consolidation at or just above all-time highs for the equities, this week indices started marching higher. Old economy stocks…
The market has mostly consolidated at around its all-time highs this week. The range was narrow. The SP500 traded within 100 pts and Nasdaq within less than 300 pts. Boring you think? Not quite. Let’s see what was up. According to more and more signs the equities markets keep discounting a cycle phase change. A…
In this post I continue our series of articles about portfolio management. I go on with further, a bit more detailed continuation of the theme. I further develop the issue of Compounding, I explain Discounting, Annualisation, Continous Compounding/Discounting. In the next posts we will move on from the basics to the definitions like Risk, portfolio…
US indices made new highs this week. Most of the indices traded higher week-on-week but more or less flattish throughout the week, as investors were digesting the massive post-elections rally and the vaccine news, while also looking for new triggers to drive the markets into the year end. Still, there was quite a bit going…
The Presidential elections risk was finally written down by the markets as election date came. This week showed that whatever the outcome investors just want to move on. We saw huge gains this week and indices regained most of the ground they lost in Oct in just a few days really. Again an extremely tight…
