PPP – Shortest Distance Between Two Points….

Well, we were right in our last post.  Gains were short-lived and we have now sold 4 of the 6 positions that were choppy and uncertain.  We sold 60 shares of FXI (China) @ $42.60; 70 shares IEV (Europe) @ $37.90; 50 shares JKE (US Large Growth) @ $53.38; and, 50 JKF (US Large Value) @ $51.57.

In short, our belief is that investors in aggregate are still uncertain of the direction of the various stock, bond, currency, and commodity markets around the globe.  There appears to be great concern about the direction as evidenced by the strength of gold.  And the basic overall trade seems to be a belief in continued dollar weakness.

Our portfolio remains widely diversified and we will continue to reduce our exposure to those asset classes within the portfolio that show weakness.


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