It’s been an amazing market!
The key to making money in 2013 was to ‘be in the game’. One year ago Fiscal Cliff fears kept many people on the sidelines when stocks were weak during the fall. The huge New Year’s Eve rally (> 300 DJIA points) caught many people underinvested.
We were buying. We initiated the Virtual Value Portfolio on October 26, 2012 and have remained almost fully committed to stocks ever since. Our 30.7% total return in just under one year has beaten the S&P 500 by almost 20%.
Market Shadows did a bit of portfolio repositioning this week as the Washington-based craziness first drove stocks down and then sent them up to new highs. Our own numbers closed at the highest ever today. Our initial $100,000 has grown to more than $130,000 without the use of any options or leverage.
All previously closed-out and current positions can be seen here Detailed Results .