Thursday, March 01, 2007

Portfolio February 2007

My portfolio exceeded my expectations in what proved to be a very difficult month. The AM accounts gained 1.59% in February and 2.31% YTD. The AA accounts gained 0.5% in February and 1.42% YTD. With that, my portfolio outperformed most benchmark indices so far in 2007. Half of the performance in the AM accounts can be attributed to strong showing from both gold and energy equities even after the drop on Tuesday. My timely short of two home builders and IAI contributed to the other half.

At the end of the month, my short position is comprised of BZH, CTX, IAI, and EEM, in addition to puts on GDX. I fixed the percentages in the tables which show my short position to be almost 20% of the total equity in my AM accounts. On Wednesday (2/28) I also exited many ETF positions in my AA accounts (IWC, IWD, IWN, RSP, EFA and EEM to be exact) with the intention of moving the proceeds into HSGFX.

This is the last month I'll show the actual stocks and funds in my portfolio. One reason is that my trading activity has picked up as I respond to the increased volatility. The list at month's end does not accurately represent my holdings most of the time. I'll continue to provide a snap shot of the asset allocation at month's end.