Here are the results of last week's portfolio and trading updates. The EverydayFinance portfolio bested the S&P return of 5.5% with a 6.2% return for the week. There was a notable trend in the portfolio this week: massive standard deviation. While the portfolio eeked out a small gain over the index, but were multiple holdings up or down in excess of 20%.
BIDU and GOOG turned in a stellar performance on Google's earnings beat last week. China Mobile and FMCN moved in different directions, further illuminating the wide swings in Chinese stocks of late and the lack of correlation in individual holdings that didn't exist in 2007 (they all move up 100% per quarter!). KTII continues to be the most impressive risk-adjusted returning asset in my opinion at another 14% for the week. UYG turned out to be a great call (and they're not all in that bucket as evidenced by SIRI and TKC below), picking the exact bottom of the financial wreck on St. Patty's day (here). I had sold 1/3 share at a 40% return and the shares have returned to that level again. Time to unload some more or ride it out?
Trading: I sold my SIRI shares, as jumping in on merger news was ill-informed and researched. The stock did not react as I had anticipated and I took a small loss on the move. I also exited Turkcell (TKC) given the degrading outlook of the Turkish economy and the stock's prospects. I've chose to remain in the other emerging market cellular plays China Mobile (CHL) and Vimplecom in Russia (VIP).
In addition to these stock holdings, I took a bold move on the projected decline in oil prices. I may have been a bit early, as oil has now broken above $116 per barrel. As long as it stays below $120, I'm in the clear. For more on this move and synthetic options in general, click here.
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