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 November 27, 2017 and is presented net of maximum advisory fees and commissions.
All Cabana Portfolios were up for the week, ranging from +0.92% (Conservative) to +0.36% (Alpha Income).
We saw equity markets climb last week in response to hopes for a tax bill. That theme continues to underpin stocks. We also saw strong retail sales numbers, which have resulted in a bounce in the consumer discretionary/retail sector. Lastly, we saw a huge move in the finance sector, led by banks and insurers. It is always a good sign when we have financial leadership. This seems to indicate that the “flat yield curve” concerns are abating. Consistent with this idea, energy has been up the past two days. Demand may be catching up with the long-term over-supply issues within the energy sector. Bond yields remain contained, giving support to our dividend sensitive assets and international markets.
Banks, retail and energy are on the move. Interest rates remain accommodative. A cut in taxes may be on the way. What’s not to like? We remain bullish.
Year-to-date net-of-fees performance:
ALPHA INCOME: +5.23%
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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All performance returns are presented net-of-fees and include the reinvestment of dividends and capital gains. Benchmark comparisons are presented gross-of-fees.
Past performance may not be indicative of future returns. No current or prospective client should assume that the future performance of any specific investment or strategy will be profitable or equal to past performance levels.
All investment strategies have the potential for profit or loss. All strategies have different degrees of risk. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client.
Historical performance results for investment indexes and/or categories typically do not show the impact of transaction and/or custodial charges or the deduction of an advisory fee, which may decrease historical performance results. There can be no assurances that a strategy will match or exceed its benchmark.
Some performance returns do not represent actual trading using client assets but were achieved through retroactive application of a model designed with the benefit of hindsight. Model returns have inherent limitations. Specifically, these returns do not represent actual trading and may not reflect the impact of material economic and market factors on the adviser’s decision-making if the adviser had actually managed the client’s money during this time frame.
Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. There are no assurances that a portfolio will match or exceed any particular benchmark.
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