Portfolio Update – Up 0.09% in December 2012

My portfolio balances at close of trading on 31st December were:

Ticker Price (C$) Price Change Percentage Industry
T.TO $ 65.10 0.40% 4.8% Telecommunications
COS.TO $ 20.17 0.05% 5.5% Energy
PHY-U.TO $ 14.04 -3.13% 5.4% Gold
POW.TO $ 25.38 1.52% 4.9% Financials
BMO.TO $ 60.86 1.99% 6.5% Financials
AAPL $ 524.77 -9.69% 7.0% Information Technology
INTC $ 20.33 4.65% 3.6% Information Technology
IVV $ 141.15 -0.28% 8.6% US Equity Fund
XIU.TO $ 17.92 1.93% 6.2% Canadian Equity Fund
S&P Fund $ 120.06 1.13% 10.0% US Equity Fund
EAFE Fund $ 93.04 3.43% 10.7% Global Equity Fund
Bond Fund $ 224.69 -0.15% 25.1% Bond Fund
Cash 1.9% Cash
Total 100.0%

Overall my portfolio is up 0.09% since last month. For comparison my TI Index is up 0.25%, the DOW is up 0.6% and the TSX is up 1.59%.

My investments have fared poorly compared with most indices. Winners this month include Intel Corp (INTC) up 4.65% after a terrible recent decline and my EAFE fund up 3.43%. Losers include Gold (PHY-U.TO) down 3.13% and Apple (AAPL) down 9.69%.

My bond holdings are at 25.1%, which is acceptably close to my target of 25%. No rebalancing is required this month.

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Portfolio Update – Down 0.28% in November 2012

My portfolio balances at close of trading on 30th November were:

Ticker Price (C$) Price Change Percentage Industry
T.TO $ 64.84 0.00% 4.8% Telecommunications
COS.TO $ 20.16 -4.91% 5.5% Energy
PHY-U.TO $ 14.50 -1.73% 5.5% Gold
POW.TO $ 25.00 3.18% 4.8% Financials
BMO.TO $ 59.67 1.10% 6.3% Financials
AAPL $ 581.10 -2.40% 7.7% Information Technology
INTC $ 19.43 -10.18% 3.4% Information Technology
IVV $ 141.55 0.04% 8.7% US Equity Fund
XIU.TO $ 17.58 -1.68% 6.1% Canadian Equity Fund
S&P Fund $ 118.72 -0.06% 9.9% US Equity Fund
EAFE Fund $ 89.96 1.76% 10.3% Global Equity Fund
Bond Fund $ 225.03 0.61% 25.1% Bond Fund
Cash 1.8% Cash
Total 100.0%

Overall my portfolio is up 1.23% since last month.  Without cash contributions the portfolio would have been down 0.28%. For comparison my TI Index is down 0.37%, the DOW is down 0.54% and the TSX is down 1.48%.

My investments have done well compared with most indices. Winners this month include Power Corp (POW.TO) up 3.18% and my EAFE fund up 1.76%. Losers include Canadian Oil Sands (COS.TO) down a whopping 4.91% and Intel (INTC) down 10.18%.

My bond holdings are at 25.1%, which is acceptably close to my target of 25%. No rebalancing is required this month.

Portfolio Update – Up 0.17% in October 2012

My portfolio balances at close of trading on 31st October were:

Ticker Price (C$) Price Change Percentage Industry
T.TO $ 64.84 4.56% 4.9% Telecommunications
COS.TO $ 21.20 0.71% 4.2% Energy
PHY-U.TO $ 14.75 -1.13% 5.7% Gold
POW.TO $ 24.23 1.38% 6.1% Financials
BMO.TO $ 59.02 1.58% 6.4% Financials
AAPL $ 595.38 -9.25% 3.8% Information Technology
INTC $ 21.63 -2.93% 6.4% Information Technology
IVV $ 141.49 -0.37% 8.8% US Equity Fund
XIU.TO $ 17.88 1.53% 6.3% Canadian Equity Fund
S&P Fund $ 118.79 -0.31% 10.0% US Equity Fund
EAFE Fund $ 88.40 2.41% 10.3% Global Equity Fund
Bond Fund $ 223.66 -0.22% 25.3% Bond Fund
Cash 2.0% Cash
Total 100.0%

Overall my portfolio is up 0.17% since last month. There we no cash contributions this month. For comparison my TI Index is down 0.53%, the DOW is down 2.54% and the TSX is up 0.86%.

My investments have done well compared with most indices. Winners this month include Telus (T.TO) up 4.56% and my EAFE fund up 2.41%. Losers include Apple (AAPL) down a whopping 9.25% and Intel (INTC) down 2.93%.  Apple’s decline looks like a simple mean reversion and presents an opportunity to top up.  Intel’s decline over the past few months is deeper but also presents a buying opportunity in my opinion.

My bond holdings are at 25.3%, which is acceptably close to my target of 25%. No rebalancing is required this month.

I put most of my cash to work last month so my cash is 2.0%, which is fine.

Moving into Europe

I currently have around 20% of my portfolio invested in an S&P500 fund.  The fund is doing well and I expect it to do well through the end of the year.  However, European and other global indices have lagged the US this year by a large margin: US  stocks are up around 16.7% while Europe, Australia and Far East (EAFE) stocks are up only around 8.6% (see chart).

Image

I think that fears about a Euro-zone meltdown are receding now and we can expect some acceleration in European and other global stock markets.  Accordingly I am moving half of my S&P fund holdings to a EAFE fund to gain exposure to non-US stocks.

  • SELL S&P Fund @ $119.6038
  • BUY EAFE Fund @ $86.5027

The EAFE fund’s top holdings are:

  • Nestle
  • HSBC Holdings PLC
  • Vodafone Ag
  • Novartis AG
  • BP
  • Royal Dutch Shell PLC
  • Roche Holding AG
  • GlaxoSmithKline PLC
  • Toyota Motor Corp
  • Total SA

POSTMORTEM

Writing today, 14th October, this looks like a good call.  The EAFE fund is at $85.9862 (down 0.6%) while the S&P fund is at $117.6261 (down 1.7%).  Moving money from the S&P fund to the EAFE fund has preserved more capital (1.1% more).