Market insight and a highlight of Cabana’s year-to-date performance
Cabana’s six portfolios range from “Conservative” to “Aggressive” and include an income strategy portfolio. Performance is as of market close December 4, 2017 and is presented net of maximum advisory fees and commissions.
Cabana’s portfolios were mixed for the week. The Alpha Income led and was up +0.75%. The Moderate Portfolio was up +0.25%. The Conservative, Balanced, Growth and Aggressive Portfolios were down between -0.12% (Conservative) and -0.33% (Balanced).
The past week saw new highs in the S&P 500 and Dow, in response to the passing of a tax bill by the Senate, as well as a rotation out of tech stocks and into financials and energy. Money leaving big tech resulted in a pullback in the Nasdaq 100 as well as China, which is sensitive to technology stocks. Rotation within sectors is healthy in a sustained bull market and reflects investors continuing to actively deploy assets, in response to perceived opportunity. As I discussed last week, money flowing into financials and energy is a particularly good sign and reflects an abatement of the yield curve worries, as well as demand for energy. I would also like to point out that the transportation index is up eight percent in the past month. This indicates that goods and services are being moved all over the world and supports the strength we are seeing in energy. We remain bullish.
Year-to-date net-of-fees performance:
ALPHA INCOME: +6.02%
Performance is presented net of advisory fees and commissions (Conservative – Aggressive is presented net of 3% fees from January 1, 2017 – February 28, 2017 and 2% beginning March 1, 2017; Alpha Income is presented net of 2% fees)
-G. Chadd Mason, CEO
*Performance numbers indicated with (+) for positive return and (-) for negative return.
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