This has been the hardest contrarian trade I’ve ever tried to enter for sure. We missed on our last metals trade and now we’re back to even in the metal portfolio. That’s a heck of a lot better than most challengers though as many are now down 20-30% or more. As I said the odds of any of last years winners repeating this year are slim. As of right now many are giving back much of their gains from last year.
In the meantime the stock portfolio is doing well. Marked to market today it’s up 20% and we’re waiting on the sidelines for the next correction before we buy back.
UPDATE: We took profits on a TVIX trade today and that has taken the stock portfolio to new all time highs. +178% over the last 2 ½ years.