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 October 2, 2017 and is presented net of advisory fees and commissions.
All Cabana Portfolios were up for the week. The Aggressive and Growth portfolios were up more than +1%.
We have seen renewed buying in cyclicals as the growth story has been revived. I pointed out last week that the transportation index (IYT) has taken off and has not only caught up with the broader indexes, but is now outperforming. This could be correlated with prospects for growth across the globe. I suspect some of this may be due to hopes of tax reform. It is commonly thought that markets have a funny way of quickly figuring out what is real and what is not. If you believe that to be true, there is growth in our future. Consistent with this theory, US rates have started to rise and bonds have pulled back. The US dollar has bounced as well over the past two weeks. Energy has hung in despite the rising dollar, which may also be attributed to economic growth. Safe haven assets like gold and utilities have pulled back as would be expected. I mentioned the more than three percent pullback in China last week and questioned whether it was due to healthy profit taking or something more serious. China has made that three percent back, and more, in the past week. In fact, it is up more than two percent today. Despite the horrible tragedies seen here at home and abroad this year, the market rolls on. Let’s all take a minute to pause and think of the victims in Las Vegas and their loved ones – to them, I suspect this is all pretty unimportant.
Year-to-date net-of-fees performance:
ALPHA INCOME: +4.88%
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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