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 2021	YTD 2021
Chicken Little	0.43%	6.67%
Dow Jones Industrials	1.31%	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. 

Asset	Symbol	July 2021	YTD 2021
Dow Jones Industrials	DIA	1.31%	15.18%
Non-US Stocks	EFA	0.76%	10.46%
Emerging Market Stocks	EEM	-6.41%	0.33%
US Long-Term Bonds	TLT	2.91%	-4.61%
Gold	GLD	2.53%	-4.79%
Bitcoin	BTC	17.30%	42.33%

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 Little	Dow Jones Industrials
2021 (through July)	6.67%	15.18%
2020	8.04%	9.27%
2019	9.03%	24.82%
2018	1.27%	-3.63%
2017	4.57%	27.72%
2016	-1.92%	16.08%
2015 (April through Dec)	-2.49%	-0.27%
since inception (3/31/15)	27.26%	123.84%