Today was the third worst final day of the year in history for stocks (via SentimenTrader). The S&P 500 closed below 1121, the 50% retracement level that's proven to be key resistance for the past month or so. I guess we should expect no less from the decade than for it to go out with a thud.
Today was the third worst final day of the year in history for stocks (via SentimenTrader). The S&P 500 closed below 1121, the 50% retracement level that's proven to be key resistance for the past month or so. I guess we should expect no less from the decade than for it to go out with a thud.
Ken Heebner rang up 18% per year in the CGM Focus Fund over the past ten years, despite operating in one of the worst equity investment environments in history, earning it the title "best stock fund of the decade." I'm a big fan of the focused approach to portfolio management; diversification beyond a certain point becomes nothing more than a cop out. If you want 500 stocks buy the index. If you want to do better than the index you have to focus only on the most attractive investment opportunities. Props to Heebner for having the balls to run an open-ended mutual fund this way.
Ken Heebner rang up 18% per year in the CGM Focus Fund over the past ten years, despite operating in one of the worst equity investment environments in history, earning it the title "best stock fund of the decade." I'm a big fan of the focused approach to portfolio management; diversification beyond a certain point becomes nothing more than a cop out. If you want 500 stocks buy the index. If you want to do better than the index you have to focus only on the most attractive investment opportunities. Props to Heebner for having the balls to run an open-ended mutual fund this way.
Here's an interesting divergence: as the Nasdaq roars to new highs (on the lightest volume in years) its advance/decline line, a sign of the internal strength or weakness of the index, fails to confirm.
Bio: Jesse Felder founded Felder & Company in 2000 as an independent investment advisor. Jesse oversees both the company's proprietary investment research and managed investment accounts. He is also the editor of the company's monthly newsletter "The Felder Report."
