Portfolio Update: Markets Recover In Melt-Up

THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET

  • Enlightened-American Portfolio: +10.8% through Oct 29, 2011 (my actual IRR, including cash balance)
  • Dow Jones Industrial Average:+5.7%
  • Nasdaq: +3.2%
  • S&P 500: +2.2%
  • DJ Wilshire 5000: +1.2%
  • Russell 2000 (smallcap): -2.9%

October’s stock market melt-up has pushed most indices back into positive territory for the year. While my portfolio is outpacing the broader market, I lost ground during the month, as my large cash position equates to less exposure to market rallies (but conversely, better insulation against drops).

I did manage to put some cash to work during the down days of August and September, opening/bolstering positions in Telefonica (TEF) and Devon Energy (DVN). In last month’s portfolio review, I spotlighted both stocks as opportunities. While it is early days yet, and a rising market tide has lifted almost all boats, both DVN and TEF have outperformed the S&P 500:

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