July Performance
July 31st, 2006 by 
reality
The mutual frauds kept on pumping today, enough to hold the major indexes in place. Every sag was met with a program to jam it up. They’d better get some big inflows in the next couple of days or they’re going to have to start selling to repay the credit lines that they must have drawn down, given the very low levels of mutual fund cash. Anyway enough ranting about the crooks, how did we do for July?
| Measure | July | YTD |
|---|---|---|
| Absolute Performance | 2.55% | 8.63% |
| Relative Performance | 5.86% | 8.82% |
Relative performance is based on Fidelity Magellan, FMAGX.
7/31 portfolio.
| Asset class | % Allocated | Comment |
|---|---|---|
| Energy | 11.54 | Canadian income trusts: Esprit, Penn West, Peyto, Provident, True |
| Absolute Return Funds | 3.36 | HSGFX, Hedge Fund |
| Market Timing | 11.04 | Put options and bear funds equiv. to 200% short (basis total equity) |
| Metals & Mining | 3.47 | Newmont |
| Real Estate | 2.22 | Put options on homebuilders and finance companies XHB, CFC, COF, FNM, MTG |
| Technology | 2.44 | Put options FSL, LRCX, SNDK, TXN, INTC |
| Fixed Income | 40.62 | Mostly T-bills and a small long bond position, also TLT calls |
| Cash | 25.32 |
Posted in Asset Classes, Rogues and Rascals, Saving & Investment, Strategy & Scenarios | 
August 5th, 2006 at 4:51 pm
Am linking your blog to mine. You are doing about a percentage point better than me so far this year. Often the market seems to want to maximally frustrate both bulls and bears. However, at the most I think we are only halfway through this correction/bear market.