Wednesday, May 31, 2006
May Summary: S&P by a nose
Close but no cigar. I had a 0.2 percent lead against the S&P 500 going into today. However, despite the fact that my portfolio gained 0.5 percent for the day, the late day surge in the markets lifted the S&P by 0.8 percent, so I ended up slightly underperforming that index for the month. And what a lousy month it was. My portfolio lost 3.2 percent in May, the first major down month that I have experienced since the summer of 2004. I suppose it was inevitable. The one positive thing is that I did outperform the NASDAQ (down 6.2 percent in May) and the Russell 2000 (down 5.7). Of the three indices, The Russell really is the best benchmark against which to measure my performance, so I guess it could have been worse. Let's hope June is more profitable!