Another day...
Today was a constructive day. The indices didn't make a lot of progress but advances led declines more than 1.4:1, new highs better than 4:1. Recent big winners AAPL, RIMM, GOOG, and CBEY faded but others in the portfolio took the lead. EXPE, TU, PCLN, RL, CI, GS & GD shot ahead and carried the day.
As follow up to yesterday, this is the benefit of a moderately diversified and well managed portfolio. Lots of good names will yield a bunch of winners in this type of market. Sometimes the key winners need to rest and it's nice when the second tier players jump in and rise to the occasion. Of course they are stocks and they don't know they are being counted on to rise to the occasion but that's the stockpicking part of portfolio management. Picking stocks isn't about what you like, it's about judging what the street likes. Sort of like a beauty contest - the viewer tries to pick not the prettiest contestant but the contestant the judges are most likely to consider prettiest. When done right the portfolio is always being pushed ahead by the pretty girls, uhh, i mean stocks that the street also wants to own. This takes a lot of pressure off the account's biggest winners to continually produce -something that is statistically unlikely.
On the flip side nothing misbehaved badly enough to get tossed but tomorrow is another day. Weeding the losers is what we do while we let our winners run!
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Geller Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. A copy of our current written disclosure statement discussing our advisory services and fees is available for review upon request.
As follow up to yesterday, this is the benefit of a moderately diversified and well managed portfolio. Lots of good names will yield a bunch of winners in this type of market. Sometimes the key winners need to rest and it's nice when the second tier players jump in and rise to the occasion. Of course they are stocks and they don't know they are being counted on to rise to the occasion but that's the stockpicking part of portfolio management. Picking stocks isn't about what you like, it's about judging what the street likes. Sort of like a beauty contest - the viewer tries to pick not the prettiest contestant but the contestant the judges are most likely to consider prettiest. When done right the portfolio is always being pushed ahead by the pretty girls, uhh, i mean stocks that the street also wants to own. This takes a lot of pressure off the account's biggest winners to continually produce -something that is statistically unlikely.
On the flip side nothing misbehaved badly enough to get tossed but tomorrow is another day. Weeding the losers is what we do while we let our winners run!
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Geller Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. A copy of our current written disclosure statement discussing our advisory services and fees is available for review upon request.
posted by David Geller at 5:20 PM
0 Comments:
Post a Comment
<< Home