Report 12-2018
At the end bear market also hit the US indexes recording a truly ruinous month with a loss of just over 20% from the September highs on the SP500.
Such a fast change in the trend is due to already known trade events between USA and China and the slowdown in the economies ( China included), but also by technical reasons. The high reading in the "Sentiment" index, as repeatedly remarked in our rubrics, required the achievement of more "acceptable" values ??as well as breaking of 2600 points, important support of SP500, has triggered the stop loss places to safeguard positions.
Even on our management stops have been taken that, sometimes, led to losses on securities. But this is part of the equity market risk.
However, we close the year with a reasonable -1.43% on balanced management, while the complex of equity and balanced management, as per the attached form, recorded a greater loss of 12.86%.
Giorgio Giovannoni
We attach schedule of the portfolio.
 Report 2018-12 gpm tutte.pdf | [ ] | 719 kB |
