Bold Call - Doug Kass Called the Bottom!

Douglas Kass (DougKass) on Twitter

DougKass

1. death cross is b.s. indicator.. more on that tomorrow morning $ about 12 hours ago via TweetDeck
2. Emotional Abuse! http://bit.ly/9fNFOX $ about 13 hours ago via TweetDeck
3. i beleive today will mark a classic bottom $ about 14 hours ago via TweetDeck

He was also the one who called the bottom in 2009. Two times lucky? Hopefully .... for the benefit of my portfolio :)

Portfolio Update June 2010

2010 Year to date (YTD) Return Portfolio -4.61% Equity(Include Funds)  -3.84% Direct Shareholding -2.62% Dividend/Coupon/Interest received 2010 YTD $91,676 Absolute Return Since Nov 2007 Portfolio -1.96% Equity(Include Funds) 12.70% Direct shareholding 13.15%

Another month of uncertainty and zero returns. My performance have been dismal as I have basically not earned anything (after taking dividends into account) after 3 years in the market.

The purpose of tracking your returns is to see how you fare against the benchmark. In this case, if we benchmark to the indices(mine is a weighted composite of HSI, STI, ASX, DOW), I might have outperformed them relatively (like almost all fund managers who tell you they outperform the market). However, investors should go for absolute returns, not relative returns. That is we compare our returns to what you would have gotten if you had put your money into almost risk-free investments like Deposits and govt/investment grade bonds.  On that count, I've failed thus far with a portfolio return of -1.96%.

Portfolio Update May 2010

2010 Year to date (YTD) Return Portfolio -4.90% Equity(Include Funds)  -3.93% Direct Shareholding -2.59% Dividend/Coupon/Interest received for 2010 $64,699 Absolute Return Since Nov 2007 Portfolio -0.78% Equity(Include Funds) 12.28% Direct shareholding 12.80%

1) A market with very conflicting views. Positive economic data globally coupled with negative news about European Debt Contagion and Tensions arising in the korean peninsular and Israel/Iran Straits. From a Technical perspective, the market is definitely capabale of breaching and morphing into a bear market as most indexes have touched the major trend lines. However, I still believe this is the correction that is due and the bull market will resume soon. Though I will not buy further on dips as I believe Cash holdings are necessary for those unexpected events. Just keep a watch out now!