Chicken Little still Scared
It has been almost 10 years since my friend Paul Solman of PBS named me the 'chicken little of finance.' A decade later, I continue to fear that government malfeasance, in the form of loose money and too much spending, will create financial havoc. So far, the stock market is unconcerned.
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| Chicken Little approaching 10th birthday |
August 2024 performance
The Dow Jones Industrial Average gained 1.95% in August 2024. The Chicken Little Portfolio gained 0.59%. Year to date, the Dow is up 11.48% while Chicken Little is up 2.83%
August 2024 was a mixed month for major asset classes. International stocks and Bitcoin had significant declines, while other asset classes had modest gains.
Year to date, all these major asset classes are showing strong, positive returns except for long-term US Government bonds which have slipped modestly.
September 2024 portfolio position
The Chicken Little portfolio remains positioned for financial apocalypse. One change in the portfolio positioning in the month; I doubled the gold position. Gold is at all-time highs, and ready, I believe, to move higher.
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