Category: Tactical ETF Portfolio Management
Tactical ETF Portfolio Management is about tactical decisions with Exchange Traded Funds.
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Expected Volatility Stays Elevated in 2018
In late 2017, implied volatility, as measured by the VIX CBOE Volatility Index, was at abnormally low levels. I pointed out many times that vol is mean reverting, so when expected volatility is extremely low… Read More
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Interest Rate Trend and Rate Sensitive Sector Stocks
The interest rate on the 10 Year Treasury has gained over 20% so far in 2018, but I noticed it’s more recently settled down a little. One of my ASYMMETRY® systems generated a short-term momentum… Read More
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Is this correction and volatility normal?
With perfect hindsight, we now all know that January 26th was the recent price peak in the U.S. stock market. Since then, the S&P 500 has declined about -10% and the Dow Jones Industrial Average… Read More
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Buying demand dominated selling pressure in the stock market
Past performance is no guarantee of future results and that was the case today. After last weeks Selling pressure overwhelms buying demand for stocks for the third day in a row the enthusiasm to buy overwhelmed the desire to sell.… Read More
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The markets always go back up?
Someone recently said: “the markets always go back up!”. I replied: “Tell that to the Japanese”. The chart below speaks for itself. Japan was the leading country up until 1990. The NIKKEI 225, the Japanese stock… Read More
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The Trend of the U.S. Stock Market and Sectors Year-to-Date
As of today, the below table illustrates the year-to-date gains and losses for the S&P 500® Index (SPY) and the 9 Sector SPDRs in the S&P 500®. We observe the current and historical performance to see how the… Read More
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Warren Buffett’s Berkshire Hathaway Hasn’t Managed Downside Risk
Stephen Gandel shares an interesting observation in Fortune ” Warren Buffett’s Berkshire lost $11 billion in market selloff“. He points out that Buffett’s Berkshire Hathaway (BRK.A or BRK.B) is tracking the U.S. stock indexes on the downside. He says:… Read More
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Why Index ETFs Over Individual Stocks?
A fellow portfolio manager I know was telling me about a sharp price drop in one of his positions that was enough to wipe out the 40% gain he had in the stock. Of course, he had… Read More
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Why So Stock Market Focused?
Most investors and their advisors seem to speak mostly about the stock market. When they mention “the market” and I ask “what market?” they always reply “the stock market”. Why so stock market centric? It… Read More
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My 2 Cents on the Dollar
The U.S. Dollar ($USD) has gained about 20% in less than a year. We observe it first in the weekly below. The U.S. Dollar is a significant driver of returns of other markets. For example,… Read More