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 September 25, 2017 and is presented net of advisory fees and commissions.
All Cabana Portfolios were down for the week ranging from -0.06% (Alpha Income) to -0.99% (Growth).
Equity markets stalled at all-time highs and have drifted lower over the past few days. Some of this can be attributed to the increasing likelihood of a December rate hike and the Fed establishing an October date for beginning to unwind its bond positions. We have also seen increased jawboning from Trump and Kim Jong-un, which is never a positive. China sold off more than three percent yesterday after a huge run up this year. Whether this was just an overdue and healthy correction or a reflection of investors taking risk off the table in Asia in response to threats of war remains to be seen. China did stabilize today and ended up in the green.
I mentioned several weeks ago that of all the charts I have been watching, the transportation index (IYT) might be the most important. It significantly underperformed the broader indexes throughout the year and, as Charles Dow theorized, the transports have to participate in a healthy bull market. Well folks, the transportation index has absolutely blown the roof off and is at a yearly high. At the same time the Dow, S&P 500 and Nasdaq are right there as well. All this bodes well for a very old bull as we enter quarter number four of 2017. We remain bullish.
Year-to-date net-of-fees performance:
ALPHA INCOME: +4.34%
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
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