(Harvest) Our Portfolio continues to meet its primary objective to outperform the broader market over the long-term with a concentrated sector focus.The Conquest Business Cycle Investing, MidCap Portfolio outperformed its benchmark during the 1st Quarter 2016, registering a 2.63% advance vs. a 1.35% uptick for the S&P 500 Composite and a 2.25% gain for the Russell Mid-Cap Index. It was an especially erratic period, characterised by sharp losses in January 2016, followed by minimal gains in February 2016 and healthier gains in March 2016.<\/p>\n
Since inception in July 2010 through the end of March 2016, our BCI MidCap Portfolio has advanced 240%, compared to a 122% gain for the S&P 500 Composite and 125% for the Russell Mid-Cap Index during the same interval.<\/p>\n
During the first quarter 2016, we continued to ramp up our cash position, which was increased to 10% from 7% since the end of December 2015. Our Hedging Activity also increased to 7.2% from 4.9% at the end of the fourth quarter 2015. Our concerns about over-valuations led us to scale back our Technology allocation to 16.8% from 22%, three months earlier. Additional reductions in our overall sector allocations were offset by an increase in our Cash Equitization to 3.5% at the end of the first quarter.<\/p>\n
Faced with downward revisions in U.S. GDP estimates for in the foreseeable future, prospects for a continued tightening of Federal Reserve monetary policy and lackluster earnings expectations, we do not view current stock market valuations as sustainable.<\/p>\n
Considering the macroeconomic factors previously mentioned, a sideways market pattern may be the best that can be hoped for while there is a rising possibility for a market retracement in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"
(Harvest) Our Portfolio continues to meet its primary objective to outperform the broader market over the long-term with a concentrated sector focus.The Conquest Business Cycle Investing, MidCap Portfolio outperformed its benchmark during the 1st Quarter 2016, registering a 2.63% advance […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52387","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/52387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=52387"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/52387\/revisions"}],"predecessor-version":[{"id":52389,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/52387\/revisions\/52389"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=52387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=52387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=52387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}