August 2020, Chicken Little Portfolio Performance

US stock market has roared back from the March 23rd low. In round numbers, the Dow dropped from 30K to 18K and has returned to 28K. Chicken Little continues to believe the worst lies ahead for the economy and the stock market. 

Bear Market Floats in Central Bank Liquidity

August 2020 performance

The Dow Jones Industrial Average soared over 7.45% in August 2020, meanwhile the Chicken Little portfolio slipped 0.55%

August 2020YTD 2020
Chicken Little-0.55%5.97%
Dow Jones Industrials7.45%0.80%

August 2020 was an excellent month for risky assets and a negative month for treasury bonds and crypto. Year to date, the winners remain the 'safety' assets of Treasury bonds, gold, and bitcoin. 

AssetSymbolAugust 2020YTD 2020
Dow Jones IndustrialsDIA7.45%0.80%
Non-US StocksEFA4.66%-5.19%
Emerging Market StocksEEM3.29%0.63%
US Long-Term BondsTLT-5.01%20.69%

September 2020 portfolio positions

Chicken Little believes almost all assets are overvalued. Accordingly, the portfolio is almost entirely in cash. Chicken Little sees additional Central Bank printing coming. One outcome of that might be a continued rally in gold and bitcoin. Chicken Little is excited by crypto but contains that enthusiasm in a small position for now. 

Chicken LittleDow Jones Industrials
2020 (through August)5.97%0.80%
2015 (April through Dec)-2.49%-0.27%
since inception (3/31/15)17.02%79.28%

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