Wednesday, May 04, 2005


Didn't get invited to the party

I didn't get an invitation to today's big stock market party. My portfolio managed only a $500 gain. For the week so far, I'm up $2500. Not bad, but if my money were in an index fund, I would have gained even more. It looks like the adjustments that I made to my portfolio last year have resulted in a portfolio that has a very low (and perhaps even negative) beta. I would say that for the past 3 months, my portfolio has been virtually uncorrelated with the market. On days when the market is up, that's a bad thing. On days when the market is down, that's a good thing. Luckily (for me), the market has been down more often than up this year, which helps explain at least in part my outperformance.

Hey good to see you back. Sorry to hear about your loss.

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