It has been a tough portfolio year for me so far with a lot of hard work and time, but very marginal gains now through May 10th in my hedge fund. I figured I should go back through my blog (journal) and see if I could have done anything much better.
On February 3rd my ‘momentum’ portfolio was getting smacked and I penned that it may be ‘The Last Great Day to Sell‘. I know I was taking my medicine and trying to stay disciplined.
For many of the $IPO and bull market leaders if it was not the top, the top was close. I have followed up on the IPO death march of Twitter $CSLT $NMBL and others since mid -April and the selling continues in relentless fashion today. In that same post I pointed out that burgers, bandaids and I would add now ‘post-it’ notes are keeping the 1 percenters out of this bear market. The rich don’t own the battered technology stocks. They own the behemoth Companies selling 20, 30 and 50 year notes ($AAPL, $CAT, $IBM) at exactly the right time to line their coffers.
In essense, there has been a big rotation under the hood of the S&P 500 this year…out of technology (biotech) and internet, and maybe financials and into industrials, energy and cash rich large cap technology.
As for ‘Asshats of The Year, they are piling up.
Dave is a crusty and greedy cog in the machine of the banks and general greed so I am leaning to the $IPO bankers in general.
I have set myself up for ‘Asshatery’ with a ‘Twitter will be $60 in 2015‘ post a few weeks back when the stock was at $37. My last shares are locked up and at $37 I decided to not sell on day one of the lock-up.
It could easily be argued that we the ‘Public’ are going to be ‘The Asshats’ of the year, but I will do my best to help you stop the bleeding and get you on the right side of the money flows as the year continues.