Friday, May 8, 2015

Soos Global Investor Update...Friday, May 8, 2015

(A Friendly and Important Disclaimer Note (in addition to legal language below):   If you’re reading this post and are not currently investing with Soos Global (which, of course, is something we should discuss!), please bear in mind that while we share details on changes made to our portfolios, it's important to consider that our portfolio decisions are taken in a much broader context of our overall portfolio strategies and our assessment of each of our investor's unique financial profiles.  As such, what we do, and when we do it, is specific to our investor portfolios and is NOT intended, in any way, as advice for use by others.  Readers are reminded that all comments posted here are for information and entertainment purposes only!  Any commentary, especially those that include specific mentions of 'buying' or 'selling' or 'positions', is made solely for those limited informational and entertainment purposes, and NOT as advice.  We're delighted to hear thoughts and comments.  Thx!)

TGIF…yes, because the weekend awaits with summertime weather in NY (finally)…but also TGIF because of today’s NFP data.  Stocks are really enjoying the NFP number, which, though it was in line and last month’s number was revised lower, had enough in it to happy about…the labor situation is improving just enough to keep the economy grinding forward, yet not fast enough that would cause the Fed to hike too much.  Wage growth remains below the level that the Fed wants to see, and there are still no inflation pressures.  So both stocks and bonds like this number!

I’m still not all that excited about buying too much more in the equity space up here (we’re still  @ 80%+ of AUM)….recall what I’ve said about earnings, guidance and valuations.  But selectively, yes, if I see good value.  Otherwise, I’m still on the lookout to trim some positions if the markets’ rally creates oversized weightings in our portfolio, and use that cash to add to and/or diversify into some of the things I’ve mentioned in recent missives….Europe (VGK), Australia (EWA), EM local currency debt (EMLC), cyber-security such as Symantec (SYMC), the rail sector such as Norfolk Southern (NSC) and Trinity (TRN) (Note:  TRN has recovered significantly from the pounding it took last week when the DOJ issued subpoenas in an investigation into possible misconduct in dealing w/government officials.  Once there’s more visibility on this situation, I’d consider re-entering, but as a ‘policy guideline’, I generally stay out of situations that are riddled w/litigious risk).
I have beefed up our so-called defensive positions (what I collectively call our ‘yieldy stuff’…things that ought to hold up well in equity selloffs, and in the meantime, pay a healthy dividend).  I expect to continue to do this, especially until my view on long-term rates changes….again, as I’ve written of late, I don’t see solid ground for long-term rates to rise, so on rate backups, for example, USTsy 10yrs over 2.2%, I’m inclined to buy that space.

Will keep you posted….and please email me w/any questions or thoughts.  I’d be delighted to engage more dialogue on any of these topics and/or on any other positions in the portfolios.


Please continue to visit Soos Global Market Musings for updates.

(Sign up to "Follow by Email"!  And share with others!)

(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs including SYMC, NSC, EWA, EMLC, 10yr Tsy..  Positions may change at any time without notice.   

No comments:

Post a Comment