Relax. Don't Do It....

 ...when you want to... short it or. When you want to sell. 

'Twas a good week for the portfolio, sliding up about 4% for a return to date, (8 months and 3 days,) of 26.5% vs 14% total return for the SPY's (the S&P.) Innodata - a 'core' holding as in it will always be in the portfolio, traded but present, for some time - popped again. That will be covered in the next post. Fairly low beta overall as mentioned, notable dispersion as also mentioned in the previous post: last week's update. A very large short percentage now... where most of the losses are. And just below half currently in cash and short-term bonds. 

So.. let's cover in ticker alphabetic order the first 12 equity holdings. (Just in case: ticker refers to the specific letters that represent a company's stock. Trading information for companies used to arrive via telegraph lines that in turn 'ticked' the letters onto a paper strip, the ticker tape. The lines and tape are gone but the term remained.)

disclaim and all: (Note to anyone perusing: for now, I've none of these things - those who know me know the primary cause. He did actually steal literally every thing. Just suggestions these and no conflicts of interest or certified advice. Investing, or betting, is always problematic and filled with risk. Then again, so can be eating a pizza.) 

1: BKF - a so-so ETF that was to be a broad exposure to the brics (Brazil, Russia, let's replace the I with Iran, China, etc,) markets. As will become obvious, there are quite a few ETF's in the portfolio. I don't like them much, ETF's (just in case again - exchange traded funds,) but I am fiddling here alone, not using for now real money and in case you haven't noticed - markets are basically boring, self-referring and fundamentally might be the single most determinate aspect that will or that can bring humanity to its end. They're also part of what is becoming an inevitable self-destructive mechanism of equity markets themselves because of the way they function as sort of enzymes-ish of passive investing (which isn't actually passive for the markets but that's for another post.) I dislike both the markets and ETF's. Still, I've always been oddly good at the former while the later can be useful regarding the reduction of specific equity risk. In short: ETF's sponsor a sort of laziness that I cannot realistically avoid. This one is to very slowly add to if and when occasions occur.

2:Calm. Cal Maine. A shit-faced vomitous company that fucks people, though that's almost a redundant phrase. Eggs in the states, largely. The leaders. Preditory but efficiently nasty almost a la Suisse (or should I say Schweiz) in terms of management. Think the Nestle of US eggs. No debt, inevitable growth for all the reasons you probably get every time you go for groceries of late. A core holding, currently cheap relative to the market. 

3: Canc. Another ETF giving exposure to, you guessed it, cancer. Which has become close to redundant at this point given other things bought in the meantime but it still has its use. It's done quite well and has been traded - actually most holdings have been traded, necessary in the current environment. Hold, buy if things tumble, funding will flow increasingly into the sector - a strategic one - and investment inflows will follow. 

4: CC: Chemours Company. Specialty chemicals, already popped and mostly sold. High risk, lots of debt but... actually not such a risk, I think. Strategic, primed to be bought by someone big, will benefit from poltics and geopolitics - as of course it already has. But I've sold it to the bone... would buy back more if things fall apart. 

5:   CEF - yes, another one. ETF. But very useful: gold and silver physically held, not so much paper. Just in case: ETF's like GLD primarily hold contracts for gold, not the metal itself. CEF is a trust for the real stuff. For many many reasons covered in old posts... to hold and slowly increase. Core.

6: Coal. You guessed it: another ETF. On...guess again. It greatly benefitted from the Iran deal and how dirt-dirt cheap a lot of companies in the sector were and still are really. That said, I sold it off a good bit - the future isn't quite so certain. I would buy it back as well were things to fall apart taking it along.

pause: another background song -  

for the home team and the next stock - 7: CLF. Cleveland Cliffs. I fudged this not a little, trying to negotiate the possibilities of disaster vs. potential. Still on average I bought it cheap and sold it after a mini-pop. Another strategic company destined either to swing up or be bought out. But.. a ton of debt in a place where having debt isn't a great idea. And expenses through the roof given how energy consuming those ovens (steel) are to run. But it's done well, some sold off and tread lightly but it was reaaaaaally cheap, so from here it's pretty much gravy.

8: Cohr. Coherent. Nothing bad about this company, really. Core. Like one of those core biotech companies I would have had in my portfolios long ago. It's already popped fully, was mostly sold, some bought back on a slight slide and now it's popping again. Optics. Chips. Data centers. Research. Cataracts (lasers). It's become expensive, of course, but if there's a panic - I'd buy on the downside-

9: Copx. Yes, another ETF on Cu. Essential for a ton of things and has been covered in older posts. It's been traded of course, sold and bought back that is, and since first using it I've done a bit of looking at specifics but like Canc still has its use. I'd pause before buying given the run of late and present oversupply (though future underproduction is sort of already baked in.)

10: Corn. Yes, you guessed it. It's hard to play agriculture via ETF's or even companies though the later offers superior possibilities if you're... able and have the time and desire to research. I don't, so Corn is fine. Grains in general are a good idea for all the obvious ideas right now from the wars to climate and policies. Options might be more lucrative, much, if you know how. I don't so Corn is fine for this portfolio.

11: Csuay. China energy adr (ADR - American Depository Receipt for a foreign company stock issued by a bank.) 'Nough said. Ho. Ho. But it is an obvious good idea for long holding, good dividends. I sold off some after the war run but will buy back if it tumbles back at some point.

12: Last but not least for today - DBA. Another ETF on agriculture. All mentioned above for Corn and such applies. This is multi-sector agg fund and holds some things that, frankly, I'm not big on but.. it turned out to be a good buy and will likely be held for a good bit. Bad times likely are-a-comin' regarding food output. Anyway.

That's it for today. 12 down, about 45 to go....