Powerfund Portfolios Performance Review

Powerfund Portfolios Commentary

August 2012 Performance Review

September 1, 2012
Category: 
Powerfund Portfolios

In the absence of scary economic news, stocks drift higher – like the roughly 2.25% gain in August. We would expect this to continue if we avoid a deep recession and any debt market shocks that drive rates higher.  ...read the rest of this article»

Stock Funds1mo %
Vanguard European ETF (VGK)4.68%
Vanguard International Index (VTMGX)3.15%
Vanguard Europe Pacific ETF (VEA)3.29%
Royce Financial Services Fund (RYFSX)2.92%
Vanguard 500 Index (VFINX)2.24%
PRIMECAP Odyssey Growth (POGRX)2.47%
Homestead Value Fund (HOVLX)2.13%
Satuit Capital Micro Cap (SATMX)1.92%
Scout International Discovery (UMBDX)1.81%
Jensen Value J (JNVSX)1.69%
Vanguard Value ETF (VTV)1.48%
Health Care Select SPDR (XLV)1.17%
iShares MSCI Japan Index (EWJ)0.78%
Vanguard Emerging Markets Stock Index (VEIEX)0.43%
Vanguard Telecom Services ETF (VOX)-0.04%
PowerShares DB US Dollar Index (UUP)-1.81%
American Century Utility Income (BULIX)-2.96%
PowerShares DB Crude Oil Dble Short (DTO)-19.31%
Bond Funds1mo %
Doubleline Total Return Bond (DLTNX)1.10%
Metropolitan West Total Return (MWTRX)1.07%
American Century Core Plus (ACCNX)0.19%
Vanguard Total Bond Index (VBMFX)0.05%
American Century Government Bond (CPTNX)-0.09%
Vanguard Long-Term Bond Index ETF (BLV)-0.69%
Vanguard Extended Duration Treasury (EDV)-2.54%

July 2012 Performance Review

August 2, 2012
Category: 
Powerfund Portfolios

The rebound in stocks at the end of June carried through to July, though with some slides along the way. It’s a market scared of another collapse, yet it keeps finding support from (probably) not much else than the trillions of dollars globally that needs to be invested and the fact that cash and bonds should be very low return assets for the next few years. ...read the rest of this article»

June 2012 Performance Review

July 3, 2012
Category: 
Powerfund Portfolios

The S&P 500 Index got off to a rocky start in June but ended up with a just over 4% gain for the month, pushing the index to a near 10% return so far in 2012. Bonds were basically flat even as investors stuffed tens of billions of new money into bond funds while taking money out of stocks. The Vanguard S&P 500 now yields significantly more than the bond index fund: 2.2% vs. 1.88%, both including fund fees.  ...read the rest of this article»

May 2012 Performance Review

June 2, 2012
Category: 
Powerfund Portfolios

Apparently somebody jumped the gun on the whole stock market ‘sell in May and go away’ cliché. U.S. stocks have been going down since early April, but the selling picked up last month - resulting in a 6% S&P 500 slide and turning the 1-year return for the benchmark negative.  ...read the rest of this article»

April 2012 Performance Review

May 2, 2012
Category: 
Powerfund Portfolios

Fund investors continue pulling money out of stock funds. We see around $10+ billion a month come out of ordinary mutual funds – an investment class that is in long term decline. If it wasn’t’ for 401k assets, there would be big problems in the mutual fund industrial complex. ETFs continue to bring in money to offset these losses in total fund assets. ...read the rest of this article»

March 2012 Performance Review

April 2, 2012
Category: 
Powerfund Portfolios

Stocks remained strong in March. Investments considered safe havens did poorly, from bonds to precious metals. Even the market volatility measure, the VIX, slid as the stock market’s potential downside seemed to shrink. There will be no double-dip recession, and perhaps no collapse of Europe. Even though investors optimism on US stocks continued to grow, the underperformance in what typically would do well as investors embraced risk - emerging markets - continued. ...read the rest of this article»

February 2012 Performance Review

March 2, 2012
Category: 
Powerfund Portfolios

Typically emerging market stocks rebound faster than the US stock market when the market heads back up (like we saw in January) but there seems to be some fears around that the emerging markets era of outperformance is waning and the US may be more insulated than faster growing markets from Europe’s ongoing troubles.  ...read the rest of this article»

January 2012 Performance Review

February 2, 2012
Category: 
Powerfund Portfolios

The big gains in foreign markets doesn’t quite wipe out last year’s losses, but it’s a good start to the year. The bond market highlights this re-embracing of risk. Higher risk bonds topped the list in January with emerging market bond funds up around 5%, followed by high yield bonds up over 3%. The safest government bond funds were roughly flat to slightly up.  ...read the rest of this article»

December 2011 Performance Review

January 4, 2012
Category: 
Powerfund Portfolios

For 2011 our Conservative Portfolio was up a respectable 3.5% while our Aggressive Portfolio’s winners couldn’t overtake the drag of foreign markets and financials, giving us a 0.41% loss for the year. A drop of less than one-half of one percent may compare favorably to most global portfolios (the Morningstar Global Allocation category was down about 4% for 2011), but we consider it a disappointing result. ...read the rest of this article»

November 2011 Performance Review

December 2, 2011
Category: 
Powerfund Portfolios

October’s sharp rebound fizzled in November, and a late month rebound wasn’t enough to push the S&P 500 back into positive territory. The market’s slight dip for the month was similar to the bond market’s slip, resulting in a down November for most investment mixes.  It doesn’t seem it but the S&P 500 is up just under 1% (with dividends) for the year. Once again, foreign stocks underperformed US stocks last month. ...read the rest of this article»

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