The Long-Trading Portfolio remains in the negative column year-to-date. The portfolio, being concentrated, is volatile and is subject to frequent swings in performance. The latest week was no exception. The portfolio took back the previous week's losses and just a little more, gaining more than 400 basis points on the week or about 200 basis points relative to the market. The portfolio performance was predicated on the outperformance in the coal stocks with a drag coming from the flat performance in the latest addition, the Gold Miners ETF Trust (ticker GDX). The latest performance chart of the portfolio is shown below.
Year-to-date, the portfolio has lost 11.5 percentage points versus an 8.8 gain on the S&P 500. Since inception, the portfolio has gained 20 basis points for a relative loss of 740 basis points.
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