A Great Week

Last week, despite a raft of bad economic data, the stock market performed terrifically well:

Dow …………… 12,609 +3.2%
Nasdaq ………… 2,371 +4.9%
Nasdaq 100 ……. 1,866 +5.5%
S&P; 500 ………… 1,370 +4.2%
S&P; Midcap 400 … 815 +5.6%
Russell 2000 ……… 714 +4.5%

I’m happy to report that The Kelly Letter did even better:

  • +12% in two positions
  • +9% in three positions
  • +7% in one position
  • +5% in three positions
  • +4% in two positions
  • -2% or less in three positions

More impressive, however, has been the predictable performance of the letter’s permanent portfolios, which readers of my stock book read about in Chapter Four. From page 126:

What I am pointing out here is that extreme volatility coupled with assured recovery is a potent combination. It’s why I continue believing in these strategies through good times and bad, but especially during bad. When most of what you hear is complaining about the stock market, get out your check book. Eventual recovery is on sale.

Fitting words for this year’s first quarter. Maximum Midcap gained 11% last week. You can keep tabs on both Double The Dow and Maximum Midcap for free here.

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