Last week’s action reinforces my analogy of the financial markets being more akin to car-driving than roller-coasters. Most people drive recklessly far more often than they should but get away with it most of the time. With the market, an unrelenting stream of up days fostered an illusion of stability. It becomes clearer that these [...]
Following on last post’s observation of the implications of an economic recovery taking hold, I present readers with a trio of intriguing stories from the Wall Street Journal. First, EOG Resources (EOG) announced a change in focus as it seeks to apply new horizontal drilling techniques to search for oil. Despite the company’s assertion that [...]
Scanning the 13F-HR SEC filing of Paulson and Co. suggests John Paulson employs an active trading strategy. Readers can best view Paulson’s moves in spreadsheet format but some broader themes do emerge: Similar to some of the other money managers already profiled (Berkowitz, Klarman), Paulson is bullish in the financial sector, as evidenced by sizable [...]
THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: -2.3% through Jan, 2010 (my actual IRR, including cash balance) DJIA: -3.5% Nasdaq: -5.4% S&P 500: -3.7% DJ Wilshire 5000: -3.5% Russell 2000 (smallcap): -5.1% Our portfolio outpaced all major indices thus far out of the gate in 2010. As always, this outperformance can not be attributed to any [...]
Today’s Wall Street Journal has no less than three articles spotlighting gold’s brief ascent to the $1,000 level. More accurately, the three articles explicitly and implicitly suggest investors stay away from the yellow metal: Taking Down the Golden Barrickades [$] Gold Loses Barrick Benefit — After a Buying Spree, Firm Ends Its Hedging Program [$] Technically [...]
View the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. through August 31, 2009. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +23.7% YTD (my actual IRR, which lags the equal-weighted returns) DJIA: +8.2% Nasdaq: +27.4% S&P 500: +13.0% DJ WIlshire 5000: +15.4% Russell 2000 (smallcap): +14.5% [...]
