AN EXCLUSIVE Portfolio 1


October was a good month for my investments. 1. My Hong Kong collateral portfolio appreciated. During the month, I purchased shares in Ping An (HK: 2318) and added slightly to my shareholdings in Cosco Pacific (HK: 1199) and K Wah (HK: 173) through dividend reinvestment elections. I hold stocks in CMR which is suspended pursuing an attack by a short vendor alleging fraud currently.

4. My commodities rose. 5. Most of my properties were occupied with all tenants paying promptly. This month There have been only minor repair bills. Unfortunately, two buildings have obtained notices for a mandatory window inspection – I hope that I’ll not have to replace any windows. 7. My position in bonds remains small. 10. There is no transfer to Mrs Traineeinvestor this month. My cash position rose due in spite of the new investment in Ping An.

I currently keep 56.5 a few months of expenses in HKD equivalents or cash. The IShares RMB Bond fund is roofed a cash equivalent. That is above my focus on floor of two years. A month period For the one, my net value rose by 2.06%. The year to date increase is 13 The.54%. Which means that my mark-to-market investments have valued this season. I retired on 30 September 2013. For Sept strike the lender accounts at the start of October Pay.

  • Name the top three experiences from your past, that help form who you are today
  • Non-Commutable Differed Annuity payments
  • The new contract may have more or better-performing investment options
  • Know Who They’re Looking to Target
  • The trend following model outperformed over extended periods of time
  • If the owing spouse files for bankruptcy you may not collect what’s owed to you

Yet the world’s central bankers made the most outlandish pre-commitment ever – they committed to years of ultra-low rates, long-term yield control, liquidity large quantity, and unwavering market backstops. Recessions and keep marketplaces won’t be tolerated. “Whatever it takes.” “Push against a tightening of financial conditions back.” Justify it all by fixating on (slightly) “below target” aggregate consumer price inflation – in a maladjusted globalized financial structure replete with extreme inequities and overcapacities.

Bull markets forever. Capitalism without downturns. Enlightened monetary management in conjunction with stupendous technological innovation. It all emerged to ensure a Phenomenal 2017 together. Enjoy, but don’t for a minute to allow yourself to be convinced it’s sustainable. The root fund is unsound phenomenally. Crazy late-cycle excess. Inflationist central bankers have actively advertised the greatest inflation and mispricing of financial assets in history. Notions of endless cheap debt have manifested Wealth Illusion of unparalleled global dimensions. Whether in U.S. equities, European fixed-income, or Chinese apartment prices, Bubble mindset this embedded is solved only through pain deeply, dislocation, and crisis. I never bought in to the comparisons of 2008 to 1929 – nor the “great recession” to the Great Depression.

2008 was for the most part a crisis in private Credit, with government personal debt and central bank or investment company Credit (fatefully) unscathed. On the other hand, the bursting of the super-Bubble in 1929 unleashed a worldwide systemic problems of confidence in the fund and policymaking more generally. In important respects, 2017 reminds me of reckless “caution to the wind” late-twenties excess in the face of darkening surprise clouds both home and global. As, well as for those interested, for January 18th please tag your calendars, 4:30 pm Eastern (2:30 pm Mountain) for the Tactical Short Q4 Conference Call.

Call details to follow. The week at 135 by Three-month Treasury expenses rates ended. Two-year government yields dipped in regards to a basis point to 1.89% (up 70bps-y-t-d). Japan’s Nikkei 225 equities index declined 0.6% (up 19.1% y-t-d). 240 million (from Lipper). Freddie Mac 30-year fixed mortgage rates increased five up to 3.99% (down 33bps y-o-y). 1.607 TN, or 57%, over the past 268 weeks. 686bn, or 5.2%, over the past year.

50.4bn. Small Time Deposits was little transformed. Retail Money Funds was about unchanged. The U.S. money index declined 1.3% to 92.124 (down 10.0% y-t-d). The Goldman Sachs Commodities Index surged 3.1% (up 11.0% y-t-d). 60.42 (up 12%). Gasoline advanced 1.9% (up 8%), and GAS surged 10.7% (down 21%). Copper added 1.9% (up 32%). Wheat increased 0.5% (up 5%). Corn slipped 0.4% (unchanged).

December 24 – Wall Street Journal (Kristina Peterson): “Even though many Republicans celebrated the recent passage of their taxes overhaul, some worry the party’s 12 months in charge of Congress and the White House did little to rein in federal government spending. Fiscal restraint has been a watchword for the ongoing party for many years.

But various activities this year, including the tax rewrite, are expected to add to the federal government deficit, with spending more likely to upsurge in 2018. ‘Most of the drive upwards has not been on the Democratic aspect, which is disheartening,’ Sen. Bob Corker (R., Tenn.) said. December 28 – Reuters (David Brunnstrom and Susan Heavey): “U.S. President Donald Trump… said he previously ‘was soft’ on China on trade issues and said he had not been happy that China acquired allowing oil shipments to go into North Korea. December 28 – Bloomberg: “The final day of the bitter year for China’s non-bank debtors is showing to be especially painful: they’re now paying an archive premium for short-term money.