We are up in a down market (PVG Tactical Total Return +0.59%; S&P 500 -0.24%*), as the market fell in January and the first part of February we protected the portfolio with inverse ETFs and then took the hedges off and allowed the portfolio to rally when the market bounced. We have recently started to…
We have discussed how to use our Loss Averse Equity Income in an asset allocation in the past. We thought we would do it again as we are still getting questions as to why we did not perform like the equity markets in 2013, and how to best use the strategy in a portfolio. We…
We have put together a comprehensive white paper on asset allocation and specifically how to implement tactical asset allocation. We believe you will find this very helpful. Please take advantage of this research. PVG Tactical Asset Allocation Guide
Please find enclosed a presentation which covers both fundamental and technical analysis of the markets, and the concerns we have for 2014. As a summary, we believe both the equity and fixed income markets have valuation issues, which investors need to be aware of if they are investing. We believe investor expectations are very lofty,…
We have made only minor changes in the portfolio during November, reducing our hedge by approximately 4% and our cash moved up by about 5%. Most of our technical and fundamental indicators are very cautious regarding the equity and fixed income markets. We believe the markets have been driven primarily by very aggressive Federal Reserve…
Pat Adams, CFA (PVG’s CEO and Portfolio Manager) was quoted in USA Today’s article “Is the Fed inflating a stock bubble?”. “We believe a bubble is developing in stocks,” says Patrick Adams, portfolio manager at PVG Asset Management. “Fed policy is forcing money into (stocks), pushing forward returns that would have come in future years….
Stocks, Particularly the High Yielding, Still Preferred Over Bonds Our economic view was well expressed last week by John Williams, president of the San Francisco branch of the Federal Reserve when he said: “We’re seeing an economy that continues to grow,” but “The growth is frustratingly slow.” Deleveraging of both private and sovereign debt and…
In his article, How to Play the Bubbles Like the Pros (© Dow Jones & Company), Gregory Zuckerman says that among the reasons so many markets are surging to sky-high levels before tumbling to painful depths, is that “investors are able to chase almost any kind of trade today, thanks to new products, such as ETFs.”…