Hi Pezz, I cross my fingers for you as well.
I am in wild panic today as well, having to do lunch with friends and business leads, write a proposal, settle all bills (Chinese lunar New Year tradition), and generally completing tasks so that the wife and I can begin our 3-weeks long holiday starting in 48 hours.
I am not concerned about my real portfolio because it is not doing anything except gently settling (down) to the Year Opening NAV due to strengthening of the USD against the Euro. The ill effects are somewhat counter-balanced by the strengthening CHF and rising gold.
Last night I bought a sprinkle of AAPTY, AU, AWK, CWT, IMPAY, and NEM. The NAV is up by 0.2% YTD, well on track to a 2% gain for 2002:0)
The situation is thus …
Cash 44.9% (37% Euro, 10% CHF, 8% AUSD, 3% HKD, 42% USD)
Bonds 22% (valued at lower of cost or market, mostly dollar denominated, including dud GX and NTL bonds valued at zero)
Gold and platinum metals 4.8% (80% gold)
Rental Real Estate 21% (value at lower of cost and market)
Non-performing Thai beach land 1.3%
Equity 5.4% (AAPTY, AMGN, AOL, AU, AWK, CHL, CMCSK, CWT, NEM, SNE, SWC, Furukawa Electric, Hongkong & Shanghai Banking HK.5, …) w/ precious metal companies accounting for 2.3 out of 5.7%.
I have outstanding short positions in March NEM Put 20 & covered Call 20, and NEM June covered Call 20. I may buy massively in NEM tonight and sell a bunch of out-of-money covered calls to hedge up to ½ the position. It may be time.
Chugs, Jay
Reference January 2002 starting position:
Message 16898477 |
