Portfolio on 12.18.20

Up a bit more than half a percent for the week. Not much of a change here. From the strategy’s perspective, this is a fairly typical market. On December 18th, the strategy rebalanced to: 60% SPY , 28% TLT , 12% GLD

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Portfolio on 12.11.20

Up three tenths of a percent for the week. Volatility continues to fall in stocks, while staying above average in the other two. On December 11th, the strategy rebalanced to: 64% SPY , 28% TLT , 8% GLD

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The Arithmetic Return Doesn’t Exist

The Arithmetic Return Doesn’t Exist. It’s a dream that isn’t real. Like waves crashing against an ocean cliff, the relentlessness of time simply overwhelms the arithmetic return. In the short term the cliff exists. But with enough repetitions, with enough crashes of the waves along its surface, it will grow smaller until ultimately the cliff…

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Portfolio on 12.4.20

Just barely down for the week. Essentially flat. Stock continue to run, as the strategy stays relatively still, held back by poor performance in bonds and gold (although gold was great this week). I view these periods as the defensive assets needing to reset themselves so they have the firepower to provide protection on the…

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