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While we huddle, here’s my guest column on oil

Genevieve Signoret

Letter from the President Happy New Year! You’ve been so patient while awaiting our revised oil price forecast. I thank you. I need just a few more days. Meanwhile, you can click here for an article I wrote for Offshore World with our Advisory Board member Jenik Radon presenting two scenarios for oil prices in […]

Where the peso’s going and what to do

Genevieve Signoret

Letter from the President The peso-dollar rate closed Friday 12 December at $1.00=MXN14.76. You’re probably wondering where might the exchange rate be going and how we’re handling the peso collapse in client accounts. We expect a near-term recovery. But you should not bet on that or any view in the derivatives markets unless you speculate […]

U Turn

Genevieve Signoret

Letter from the President Having said last week we would not bail out of our long positions in energy, for the short-term model portfolio[1] only, I’m doing a U turn: we’re bailing out. This portfolio holds ETF that holds a broad basket of commodities futures. We’re selling it on Monday and reassigning that small position […]

Prices falling? By rebalancing, buy more

Genevieve Signoret

Letter from the President Our short-term model portfolio[1] is getting clobbered by a small (originally 5%) position in an ETF that buys a broad basket of commodities futures. The problem is, of course, energy prices: energy commodities have a 60% weight in this fund, so the fund has lost 14.3% over the past three months. […]

Are you saving enough?

Genevieve Signoret

Letter from the President Most people I meet aren’t saving enough. Are you? To answer, ask yourself the following: Consider each life stage: while your children are dependent and live at home, while they’re still dependent but are away at school, after they’ve become financially independent but you’re still working, and after you retire. What […]

Keeping ETF trading costs low, Part I

Genevieve Signoret

Letter from the President The problem Our minimum accounts are valued at US$500,000 (MXN6,650,000), but additional investments can be of any size. Often our clients want to invest small amounts—say, of US$20,000 or less. Perhaps the market is down and we’re been urging them to bring in excess cash to buy on the dip. Or […]

Stay empowered to persist

Genevieve Signoret

Letter from the President Try looking at the scale less often Except for the short-term liquidity portfolios we manage for treasuries and individuals, the shortest-term portfolios we manage have investment horizons of at least six months. Yet, some of our newer clients have the habit of checking their portfolios at least once a day. Yet, […]

Seizing on this moment and congratulating you

Genevieve Signoret

Letter from the President Carpimus diem We’re seizing on high U.S. Treasury valuations to make a strategy shift we think will boost our model and client portfolio performances in the next two years. Good one! Oh, and speaking of seizing the moment, I want to applaud those of you who heard our call last week to […]

A buying opportunity

Genevieve Signoret

Letter from the President Six quick thoughts from Boston: We think that the current bout of risk aversion is a mere correction. Hence it’s a buying opportunity and does not warrant a change in strategy. I know it’s hard to put more money into the market when prices are falling, but since when has self-discipline […]

Which correlations?

Genevieve Signoret

Letter from the President When talking about correlations across securities, we must be clear as to whether we’re referring to daily returns or prices. An e-mail exchange that I had this week with a reader named Victor illustrates my point: Victor: Why have TLT (iShares 20+ Year Treasury Bond ETF) and U.S. stocks been exhibiting […]