Hello World Cup Portfolio fans, here's how things turned out in what was a very difficult trading environment in Q2.
But first, let's start off with some positive news. As you may know, we trade six different markets and out of those six markets we made profits in three of those six. The profits in corn, wheat and soybeans, while very good, were not enough to make up for the losses in the other three markets. The other three markets were, for the most part, in trading ranges and very choppy and difficult to trade for the entire quarter. The markets in question are crude oil, gold and to a lesser extent, the Dollar Index.
Past performance in no guarantee of future performance. Losses can and do occur.
We have never had a losing year in the World Cup Portfolio. In Q1 of this year, we had a really good quarter with a gain of around 23%. In Q2 we gave it all back in extremely difficult and choppy trading conditions, which puts us flat on the year.
Let's take a look at which markets we made money in and which markets we lost money in, along with the reasons why. [Read more...]