Yellow Flags Popping Up In Junk

Two stories from Bloomberg today reinforce my sentiments toward the junk bond market: Junk-Bond Rally Premature as Record Defaults Loom, Analysts Say Global Crisis ‘Vastly Worse’ Than 1930s, Taleb Says Mr. “Black Swan” Taleb needs little introduction. Money quotes in the article include his thoughts on gold and other commodities (buy what “China will like”) [...]


Some Perspective On Oil

Long-time readers know my bullish views toward the energy sector. In the past, I’ve counselled against using weekly inventory numbers in considering long-term investments in the space and today’s bullish inventory numbers, while propelling a nice rally in the energy names, is no different. The case for energy scarcity does not pivot on how much oil [...]

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Portfolio Performance +6.8% Through April 2009

Click here to view the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +6.8% YTD (including dividends) DJIA: -6.9% Nasdaq: +8.9% S&P 500: -3.4% DJ WIlshire 5000: -1.4% Russell 2000 (smallcap): -2.4% I have been lax as of late [...]