Sunday, January 10, 2016

Lousy Year

I lost 2.5%. No excuses. Yeah, I know, some hedge funds lost 25%. Well, I never invested in commodities, they are not an investment class. So no, I didn't have margin calls, didn't have to do a fire sale. I didn't predict some trends, true. I thought that China's crash is coming, just didn't think how much could it scare investors. I thought that oil going down is good for economy. I still do. I just didn't see that oil crash would create huge problems for funds, which would have to fire sell everything to avoid margin calls. What I completely forgot about is the amount of oil money invested in US equities. That's a big issue nobody's talking about. It affected equities in 2015, and going to affect them more in 2016.
Anyway, no excuses. I lost money. Not much. But lost.
The only bright things in 2015: Althabet (GOOGL), Facebook (FB), Raytheon (RTN) and muni bonds.
What I think about 2016? Wait for the next article.

Disclosure: I have long positions in GOOGL, FB, RTN and muni bonds.

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