The Long-Term Value Portfolio made up the ground lost week, and then some, in the latest trading week. The portfolio ended the latest five trading days by gaining 3.8 percentage points. This compares to the nearly 2.2 percentage point gain on the S&P 500 or a relative gain of 1.6% on the week. The latest weekly gain leaves the portfolio having gained 7.4% year-to-date, or a loss of 1.4 percentage points relative to the market, and up 14.9% since inception. Since inception, the portfolio has now run ahead of the market's performance by about 100 basis points. This is all reflected in the the performance chart below.
The gain on the week was most attributable to relative gains in the discretionary, staples, and telecom sectors with NTL, KKD, and DMND all gaining more than 10% on the week. These and other gains were more than enough to offset some minor losses in stocks like KEG and CLF.
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