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Financial Fitness & Life Planning

May Update

My outlook is again becoming more conservative.  Despite strong earnings and low interest rates, I am growing more concerned about overvaluation, Fed tightening, and especially market complacency.  My fund has had a positive return for ten of the last eleven months including a streak that currently stands at seven months in a row.  While I am pleased with such consistency, I know that it is not typically possible in a normal market environment.  Indeed, the volatility index touched a multidecade low this month.  


Consistent with this outlook, I significantly reduced my market exposure in May.  Specifically, I exited my two lowest conviction holdings – Boeing and Wells Fargo.  I sold Boeing because its balance sheet is becoming increasingly aggressive (a disconcertingly common condition in corporate America presently).  As for Wells Fargo, the bank’s reputation is so tarnished that I took a profit when it became available.  


~~Michael Berlin can be contacted at and at (631) 629-4928 .

The information included in this article is not intended to be used as a basis for making investment decisions nor should it be constructed as a recommendation to buy or sell any specific security. Consult your investment professional for additional information and guidance.


Today is: February 19, 2018 - 6:24pm
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