Some nice thoughts here from folks at JP Morgan:
Publish at Scribd or explore others:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
Is their bullishness a contrary sign? What’s their forecasting record? I gotta say, this is killing me.
Are you short? I was short a few weeks back, but covered on TPC’s advice.
I’ve got some short exposure and some SPY puts Jun & Sep (those are what are really killing me with the VIX down). I only took that on at 820 and 865 on the SP500. I was real long at the Mar 9 bottom, and sold on the way up (much too aggressively, as it turns out). But I still have a substantial core long position in pipeline MLPs and one REIT (O), with cost basis way below here and very good yields (upwards of 10% on weighted average). So my portfolio is pretty neutral actually. But if we don’t get some kind of decent correction from these levels it’s going to be increasingly painful.
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