Should I be so excited? The first trading day of 2010 and my portfolio appears to be much more emotionally volatile than 2009 already. This is, mind you, after I did some aggressive rebalancing of my portfolio, adding to high beta plays such as C and BAC. So far, my portfolio's +2.68%!
Very smokin' hot, indeed.
Even HWD's up +5.08% thus far.
I am expecting HWD, C, and BAC to carry my portfolio for the rest of the year - unless I decide to do some more rebalancing before then.
For me, I hope this is just the start of some more good news for my portfolio, but I know what to expect with high beta plays now. You've got to take the good with the bad. After all, trading is full of innuendos and promises of stellar rewards for very little risk. What finally happened to my portfolio after all my rebalancing? I ended up with just a +0.5% gain (TBC) due to a horrifying loss on ABK bonds and shares. And this is not including my minor forex losses, so I'd probably be negative all in all for 2009. Oh, that's painful, especially after all my work.
I decided to get out of ABK once and for all (out of both bonds and shares) and go all out with C and BAC. It was a difficult decision to take, but I finally did it. I wanted to go into the New Year with no more excuses for mediocre investing.
If I did some creative accounting and consider bonds as a separate investment class, I would have been +9.4% with my equities, but that would definitely be self-deception and would moreover require the establishment of DAAP (Diva Accepted Accounting Practices).
Go on, laugh!
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