David Fleer
Bristlecone Value Partners, LLC
12301 Wilshire Blvd., Suite 320
Los Angeles, CA 90025 USA
Work 1-877-806-4141

On Market Timing, Fund Selection, Benchmarks, and Social Security Scams

August 17th, 2016

Since the low back in February, and as we write this post, the S&P 500 has increased by more than 20%. This is remarkable considering the events of the past 6 months, such as the UK vote to exit the European Union, and the seemingly never-ending flow of terrorists’ acts around the world. Our regular readers know that we believe attempting to time the market is destined to produce poor investment results over time, and this recent period provided another vivid illustration.

Not surprisingly, two of the categories in your portfolio that have done the best recently are the ones that did the worst in 2014-2015: natural resources and emerging markets. As the investments in these categories delivered poor overall returns for a while, some of you may have wondered if we ever sell a fund that is underperforming. Read the rest of this entry »

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