July 2021, Chicken Little Portfolio Performance

Financial markets go up every day. Stocks, bonds, real estate all levitated by government deficit spending paid for with money created by central banks. One question is paramount: does the piper need to be paid? 

The Piper has not been paid

July 2021 performance

The Dow Jones Industrial Average tacked on another 1.31% in July for a year-to-date gain of 15.18%. Chicken Little cowered his way to 0.43%  for a year-to-date return of 6.67%. 

July 2021YTD 2021
Chicken Little0.43%6.67%
Dow Jones Industrials1.31%15.18%

So far, financial markets have extracted no price for government spending and printing. The party continues and the piper is broke. 

Most major asset classes had modest positive returns in July 2021. Chinese stocks sold off and pulled down emerging markets. Bitcoin broke its recent losing streak and it still has by far the best returns in recent months and years. 

AssetSymbolJuly 2021YTD 2021
Dow Jones IndustrialsDIA1.31%15.18%
Non-US StocksEFA0.76%10.46%
Emerging Market StocksEEM-6.41%0.33%
US Long-Term BondsTLT2.91%-4.61%

August 2021 Portfolio Position
Chicken Little sold his modest crypto position in July, but plans to re-establish a small position. If the piper gets paid via inflation, bitcoin and gold may provide refuge. Otherwise no changes in the portfolio. Still cowering in the fetal position. 

Previous month's report                 Subsequent Month's report

Chicken LittleDow Jones Industrials
2021 (through July)6.67%15.18%
2015 (April through Dec)-2.49%-0.27%
since inception (3/31/15)27.26%123.84%

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