It’s time for a change in pace.
Since the end of March, the Dow has exploded from about 18,500 to over 25,000 as June nears an end.
During this period, I steadily added to my equities position as well as to my individual bond positions. I also added to three fund positions (nearly 50% fixed) that I have owned for decades (not index funds) as well as to smaller positions in gold and the Swiss Franc.
In the coming quarter, I plan to increase my focus on fixed income.
My four biggest concerns today are (1) the Fed’s balance sheet and (2) the historically low level of U.S. government bond yields, both of which are unprecedented. (3) Creeping Marxism in America and (4) China.
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