March 12, 2012
Daily commentary, current portfolio structure and history follow.
Please direct questions and comments to:
Drach Market Research
2910 Kerry Forest Parkway D4-210
Tallahassee FL 32309
Tel. (850) 576-2680
E Mail DrachMkt@aol.com
Position Changes: None.
Major movements (+ or – one point or more among holdings): Harley Davidson +1.23, Suncor Energy -1.03.
Basic Summary (positions itemized after daily commentary)
Relative performance (market to market) vs. S&P 500 since initiation
This Portfolio Model + 214%
S&P 500 + 163%
Portfolio model initiated 5/5/95, archived and marked to market daily.
Initial S&P 500 level 520.12. Initial portfolio value $520,120.00
Current portfolio value $1,633,591.97, gain 214.08%
These results are reflective as to capital capture and market price of current holdings, itemized below. They do not include cash dividends, interest earned on cash balances, transaction costs, or anything else.
Current Stock vs. Cash Allocation
$1,052,164.81 (64%) stock. $581,427.16 (36%) cash equivalents.
Summary of Closed Positions
Total Positions 459 Average Position Profit 413 (89.97%) Percentage + 7.19% Loss 46 (10.03%) Days Held 220 Even 0 ( 0%) Annualized + 11.93%
An extremely unremarkable session, with the major averages concluding the day mixed (Dow Up, S&P 500 Flat, and NASDAQ down).
Despite the dull day, can almost be seen as an exclamation point to an extraordinarily non-volatile year to date. Historically, periods of low volatility are short lived, though precise timing of shifts in volatility is difficult. Similarly, periods of excessively high volatility come to an end – no further evidence needed than the manner in which 2011 gave way to 2012, despite a growing consensus that investors should get used to the types of price moves seen last year. Another prediction of a new normal that has yielded to the old normal.
In the wake of minimal price action, this portfolio is not likely to make any changes soon, but will remain attuned to adding positions in the event of price weakness.