FIC Core Portfolio Performance – As of Q3 2018

By | September 30, 2018

Quarterly Commentary:

  1. S&P and Dow Jones Industrial had a strong quarter in Q3 2018, despite noises from trade frictions to Supreme Court Justice confirmations, from NAFTA negotiations to Turkey currency movements, from Robert Muller investigation to Fed rates hiking
  2. We still believe that the equities in major indices are richly priced, however that’s not to say it will crash and burn anytime soon (also not to say that it won’t do that next week)
  3. Entire US economy is still very strong. Therefore lots of small and medium sized businesses are the power engine now to the market and the economy.
  4. We expect major indices to be traded within a narrow range for quite a period of time.
  5. We will slowly ramp up the cash holding to approximately 10%-15% over next quarter (as of end of this quarter, our cash and cash equivalent is 11.5% of the total portfolio), unless there is significant acquisition opportunities that demand more cash.
FIC Core Portfolio S&P 500 Total Return
2018 Q3 8.74%1 7.71%2
2018 YTD 30.59% 10.56%
2017-Calendar 32.39% 21.83%
2016-Calendar 29.31% 11.96%
  1. FIC Core Portfolio is not a tax-exempt account however, the return posted here is before considering tax liability generated by any investment activities. Returns reported here are all time weighted returns, therefore are not reflecting effect of deposits and withdraws on total dollar profits
  2. S&P 500 Total Return is FIC Core Portfolio’s benchmark. The return can be found at:

Note: Past performance is not an indicator for future performance. There is no guaranty that such performance will be achieved in future.

 FIC Core Portfolio Cash and Cash Equivalent as % of Total NAV
As of 9/28/2018 11.50%
As of 6/30/2018 0.27%
As of 3/31/2018 8.14%
As of 12/31/2017 1.28%
As of 9/30/2017 5.41%
As of 6/30/2017 3.59%

Leave a Reply