THE IRON MAN – WALL STREET STYLE
Any test of a trader or investor's portfolio does not come when the market is going up day after day, similar to what we have been witnessing recently. It comes when the market drops. That is when you know if you simply have a portfolio that is either a high or low beta version of the S&P 500 or a portfolio that trades independent of the market averages and will be able to sustain returns through most conditions of the market.
Today was the Wall Street version of the Iron Man. Only the most fit, long biased portfolios finished with anything resembling a gain today. To the point where a small fractional loss would be considered a great outcome given the carnage today across all asset classes that don't count on the end of world being their formula for success.
With that being said, I was very happy to see our portfolio bring in a gain today. We posted yet another new high in the managed portfolio. It was mostly due to a super-tiny micro-cap stock that we own with an enormous spread sporting a small buy at the end of the day, which made it close up 10%+. If it wasn't for that we would have had a very small fractional loss, which I still would have considered a great victory.
Either way, all 3 of our concentrated portfolio names held their own. Our largest holding was down a little over 2% and our second largest holding posting a gain of greater than 3%.
Iron Man - Wall Street style. In the first race, we finished top of the heap. We'll see how the second race goes.
Never too late to join Zenpenny. We now have two membership options. And both are guaran-damn-teed.
