Vailshire Quarterly Update | Q1 2019

The first quarter of 2019 saw a marked change in the equity and bond markets from the very difficult conditions we faced in the last quarter of 2018. Jerome Powell, head of the United States Federal Reserve (“the Fed”), and his team of central bankers almost single-handedly caused the steep market losses through his/their hawkish comments of “quantitative tightening” (QT) in …

Commodities are Both Cheap and Hated (or Ignored). Time to Buy?

I’m with the doctor (Steve Sjuggerud) from Stansberry Research on this one. Most commodities are currently trading at historically cheap prices and are concurrently hated (or worse, ignored) by professional and individual investors alike. Vailshire’s proprietary “all-season” diversified momentum strategy portfolios allocate 10% or more to select commodities and commodity funds that are in a sustained uptrend. Drs. Sjuggerud and …

Dr. Ross on Stansberry Investor Hour – March 13, 2019

From Stansberry Investor Hour: https://investorhour.com/episodes/how-to-know-when-the-stock-markets-in-a-bubble How to Know When the Stock Market’s In a Bubble In This Episode On the heels of the 10-year anniversary of the March 2009 stock market nadir, Dan sums up how things looked when the S&P 500 bottomed out at 666 at the dark days of that crisis, how things look a decade later, and why …

Portfolio Changes to Vailshire Partners LP Hedge Fund (Week of Sept. 24-28) – $EQX $KORS $FTR $LOXO $ADI $EKTAY $AVEO $TRUP $PEI

Highlights: Our general investment themes of staying long US equities–including healthcare and technology stocks–short China, short emerging markets, and short obsolete companies, continue to treat us well at Vailshire Partners LP Hedge Fund. I had anticipated an announcement of a new trade agreement between the US and Canada by Friday, September 28th, which would have produced a nice end-of-the-month bounce …

Portfolio Changes to Vailshire Partners LP Hedge Fund (Week of Sept. 17-21) – $CNTE $MKTX $MKC $NKE $CW $CYH $AYX $RLGT

Highlights: The Dow Jones Industrial Average and S&P 500 performed well relative to the technology-heavy NASDAQ last week. Much of the optimism in the former markets was related to hopes of resolving the US-China trade spat. At Vailshire, we are less optimistic of a quick and painless agreement with China and remain generally short Chinese equities, as well as emerging …

Portfolio Changes to Vailshire Partners LP Hedge Fund (Week of Sept. 10-14) – $GSM $ROKU $SSTI $ASNA $AGO $Y

Highlights: After large gains for Vailshire Partners LP hedge fund in August, September has seen renewed tough tariff-talk and Twitter-Induced Volatility (TIV) into the worldwide markets. Our fund remains cautiously long, but in added protection mode to preserve our hard-won gains. The role of central banks and political maneuvering in the markets are unprecedented. I feel, however, that this is …

Portfolio Changes to Vailshire Partners Hedge Fund (Week of Sept. 3-7) – $TTWO $RETL $QCOM $MTN $MJ $MASI $IRBT

Highlights: August offered Vailshire Partners LP hedge fund investors exceptionally pleasing results, with monthly returns (net of all fees) of 8.1%. Year-to-date net returns through August 31, 2018 are 14.7%, easily topping our S&P 500 benchmark. The #FAANGs are generally holding up well, and we continue to benefit from our long positions in each of these technology powerhouse companies, save one: …

Portfolio Changes to Vailshire Partners LP Hedge Fund (Week of August 27-31) – $GPN $EA $CTRP $EEM

Highlights: Technology and US-based small cap stocks continue to perform well. Emerging market equities are increasingly volatile and have performed poorly. Our short positions in such companies and funds are performing admirably within Vailshire Partners LP Hedge Fund. Turnover last week was relatively low, with only four position changes in our diversified portfolio. Overall, the fund continues to handily outperform the …

Portfolio Changes to Vailshire Partners LP Hedge Fund (Week of August 20-24) – $CRM $ESPR $TIVO $FTR $ELY $XPP $F

Highlights: Innovative technology and healthcare companies led the charge last week. Moderate position turnover occurred in Vailshire Partners, LP during the week of August 20-24. The fund continues to handily outperform the S&P 500 in 2018. New LONG position(s) in Vailshire Partners, LP last week: $CRM $ESPR long-dated calls $ELY Closed LONG position(s): None. New SHORT position(s):   $TIVO $FTR $XPP $F Covered …