| Yes, the last four weeks or so have been great, although I started most of my bond positions way early. Fortunately, I doubled down and more when they hit lows in November and December. In preparation of the January effect, my cash went down to almost zero. As of now, the portfolio is back to its all time high, reached in the first half of 2008. Currently, I am paring back my positions, and cash is back up near 50%. I have already sold almost all my stocks, cut my junk bond positions by about a third to a half, and even sold some muni CEFs that lost their discounts to NAV. I am bracing for another test of the lows in stocks, and I think lower quality bonds may follow, though probably not to new lows. |
