FIC Core Portfolio Performance – As Of Q4 2018

By | January 7, 2019

Quarterly Commentary:

  1. S&P and Dow Jones Industrial had an extremely volatile Q4 2018, pretty much bringing major indices into bear market briefly before bouncing back to end the year with 4.4% loss for S&P 500 with dividend income
  2. We still believe that the equities in major indices are relatively richly priced, however less so after the correction. The small and mediate cap companies we are invested in, especially companies in Retail businesses are extremely undervalued and we are adding to our positions whenever appropriate.
  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 maintain the cash position to approximately 10%-15%, unless there are significant acquisition opportunities that demand more cash.
FIC Core Portfolio S&P 500 Total Return
2018 Q4 -26.26%1 -13.52%2
2018-Calendar -3.86% -4.38%
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: http://performance.morningstar.com/funds/etf/total-returns.action?t=spy

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 12/31/2018 12.34%
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%

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