Trade Findings and Adjustments 05-13-21
Keve Bybee – keve@hurleyinvestments.com
Rather than just looking at the difference in where we’re at vs the market.
So I need to take a chill pill and look back and see if we’re doing something wrong, or if I’m just being emotional.
Our Fang stocks and tech sector aren’t helping push the market higher like they have for several years.
AAPL not helping? Everyone was putting money into AAPL for years along with the other FANNGS. After years of this, those positions become too big for portfolios.
If we’re not indexing the stock market, we won’t always be following it closely. Periods like this last quarter, make it frustrating. But I’m ok taking the crappy periods to have the potential for a year like last year, where we destroy the market over a longer period of time.
So what has been pushing the market up through this year?
- Pharmaceuticals? The govt purchasing won’t last forever. Margins will come down. We’ve probably missed the run
- IPO’s? not our thing
- Energy? Have we missed the run?
- Materials? Keep an eye on it.
- Banks? We’re in it!
- Housing? Taxes going up, housing won’t go up forever.
Taking a step back, I have to ask if we simply missed the run up in those sectors, or if there is more to go.
I have to look at the long term and decide what makes sense with what stocks we have vs what could be better.
I like where our long term prospects are in our stocks.
I don’t like as much, the long term prospects of some of the stocks that have “worked” over the last quarter.
I’ll look at what I think will work into the future, when deciding where to put new money to work.
