Q3 2006 Quarterly Update – Keeping Score
Quarter over Quarter Gain: 17.40%
Year over Year Gain: 36.55%
Today the book closed on what turned out to be a great quarter. This quarter I moved away from being overly diversified to holding fewer positions, and I focused on not making trading mistakes that would hurt our portfolios. I generally held losing trades to a 5% loss (or less) and tried to let winning trades run. It turned out that the least profitable holdings were accounts that were in mutual funds (401ks) which on average gained less than 5%. Next on the profit curve was ETFs that generally gained between 6 and 13%. The best gains were in stocks, with a few trades that gained up to 80 or 90%. One taxable and leveraged account gained 104.38% for the quarter and another gained 54.81%, even though leverage was rarely used. Those types of trades are all timing and stock selection, and of course the greatest credit goes to the market itself. A rising tide lifts all boats, and rise it did.
posted by Greg @ 10:21 PM
2 comments
2 Comments:
Congratulations on a good quarter. Are you still invested in precious metals at all?
Thank You! No, I've not been in the gold or silver ETFs in a while. I'm going to watch them though, for signs of the metals bottoming. I still think long term we're in a bull market for the metals and oil, but who knows how far they can fall before they gain traction again. I've read gold could get some support between $520 and $550, so that is not to far away.
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