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2016 September Update


There was hedging activity as well as investment activity this month. Price histories, adjusted for splits and dividends, were downloaded from Yahoo.


Comprehensive Strategy hedges

Selection list

Before the September 6 market opening hedge exposure was $1,083,232, investment exposure was $1,065,288, and tranche size was $70,000. Adding a hedge would not improve balance, so there was no need to generate a selection list.

Portfolio

                   GROUP AND END MARKET           START        END OF MONTH
20 AMBA17P42      Semiconductors     intl   04/18/16  15,124  09/30     600
100 AMX17P11      Util, Telecom  Mex/intl   07/06/16   7,987  09/30   6,500
6 BIIB17P245      Biotechnology      intl   07/06/16  14,755  09/30   3,000
40 CAR17P22.5     Rental Servs       intl   04/18/16  14,480  09/30   1,400
30 CF17P30        Agriculture        intl   04/18/16  11,072  09/30  20,250
120 DB17P15       Banks              intl   04/18/16  19,903  09/30  33,600
20 DISh17P45      Util, Telecom        US   04/18/16   9,704  09/30   2,600
20 IAC17P45       Info Servs      US/intl   04/18/16   8,724  09/30     700
60 LCI17P17.5     Drugs                US   04/18/16  21,055  09/30   1,800
20 M17P40         Retail,Variety       US   04/18/16   8,064  09/30   9,500
80 NOV17P27.5     Oil & Gas          intl   04/18/16  27,879  09/30   3,920
20 Rh17P40        Home Furnish     US/Can   04/18/16   9,824  09/30  15,000
10 RL17P95        Apparel            intl   04/18/16   8,416  09/30   3,100
80 TDC17P22.5     Electron Eqpt   US/intl   04/18/16  15,671  09/30   3,200
20 VMW17P50       Software        US/intl   04/18/16  12,224  09/30     540

Capital gains

Thousands of US$
  OCT   NOV   DEC   JAN   FEB   MAR   APR    MAY   JUN   JUL   AUG   SEP
  -90                                 -28     -4    26   -54   -42     3

Comprehensive Strategy investments

Selection list

The selection list was generated before the September 23 market opening.

                                    MERIT    PRICE   GROUP AND END MARKET  
MCD    McDonald's Corp               775    117.36  Restaurants     US/intl
ARCC   Ares Capital Corp             775     15.55  Investments          US
CCI    Crown Castle                  605     94.83  Util, Telecom    US/Aus
SPG    Simon Property                559    213.49  Real Estate        intl
MO     Altria Group                  542     64.12  Tobacco Prods   US/intl
RAI    Reynolds American             524     48.78  Tobacco Prods        US
HD     Home Depot                    488    128.75  Home Furnish        NAm
AZO    AutoZone Inc                  485    748.23  Auto Parts       US/Mex
EL     Estee Lauder                  470     88.74  Personal Prods     intl
LMT    Lockheed Martin               468    246.62  Aerosp & Def    US/intl
PM     Philip Morris                 459    101.72  Tobacco Prods      intl
UNH    UnitedHealth Group            459    141.04  HC Plans             US
TJX    TJX Companies                 452     76.50  Retail,Variety  US/intl
ROST   Ross Stores                   421     63.98  Retail,Variety       US
CCE    Coca-Cola European Partners   418     40.22  Beverage, Soft       EU
AMT    American Tower                418    112.28  Real Estate        intl
STZ    Constellation Brands          410    166.02  Beverage, Hard     intl
CMCSA  Comcast Corp                  407     67.30  Entertainment      intl
SJM    JM Smucker Co                 398    137.87  Packaged Goods     intl
KMB    Kimberly-Clark Corp           398    127.23  Personal Prods     intl

Portfolio

The tax sale day was September 6. I decided I did not need any sales to improve my tax situation.

Investment exposure was $1,195,308, including $70,000 for the slated investment, and hedge exposure was $1,070,323. Closing a hedge would not improve balance.

I bought more RAI because all stocks were disqualified on the first pass and the market exposure of MCD, ARCC, and CCI were above the $70,000 tranche size. MCD, ARCC, CCI, RAI, HD, AZO, EL, LMT, UNH, CCE, TJX, STZ, and CMCSA were already investments; SPG and AMT were in the Real Estate group; and MO, PM, ROST, SJM, and KMB were in the same group and end market as existing investments:

                   GROUP AND END MARKET           START        END OF MONTH
500 CCI           Util, Telecom    US/Aus   12/15/14  37,778  09/30  47,105
4800 GPAGF        Packaged Goods  US/intl   09/26/14  49,921  09/30  63,230
60 ARCC18C15      Investments          US   03/28/16   4,315  09/30   5,100
60 ARCC18C17      Investments          US   05/25/16   1,495  09/30   1,200
2 AZO18C800       Auto Parts       US/Mex   07/25/16  15,468  09/30  11,000
14 CCI18C95       Util, Telecom    US/Aus   08/25/16   9,259  09/30   9,940
20 CCE17C50       Beverage, Soft       EU   04/24/15   5,824  09/30   9,400
20 CMCSA18C55     Entertainment      intl   01/25/16  14,564  09/30  27,100
14 EL17C85        Personal Prods     intl   10/23/15  11,079  09/30   8,400
10 HD18C130       Home Furnish        NAm   02/25/16  13,246  09/30  10,800
4 LMT18C220       Aerosp & Def    US/intl   12/15/15   8,567  09/30  11,840
3 MCD17C90        Restaurants     US/intl   12/15/14   2,320  09/30   8,097
10 MCD18C125      Restaurants     US/intl   06/24/16   7,576  09/30   3,910
10 NI117C45       Util, Energy         US   01/27/15   3,096  09/30   4,700
28 RAI17C38.75    Tobacco Prods        US   02/25/15   7,075  09/30  25,760
30 RAI18C50       Tobacco Prods        US   09/23/16   9,032  09/30   7,770
14 STZ17C125      Beverage, Hard     intl   08/25/15  18,611  09/30  56,840
14 TJX17C70       Retail,Variety  US/intl   03/25/15  11,457  09/30   8,960
10 TRV18C115      Insurance       US/intl   11/25/15  10,812  09/30   8,920
6 UNh18C135       HC Plans             US   04/25/16   8,845  09/30   9,660

Capital gains

Thousands of US$
  OCT   NOV   DEC   JAN   FEB   MAR   APR    MAY   JUN   JUL   AUG   SEP
   50     4    -2    -7    13    24   -14     -5    21    17   -35   -19

Irregular Strategy

Buying in the Irregular Strategy has ended and the portfolio is empty.

Capital gains

Thousands of US$
  OCT   NOV   DEC   JAN   FEB   MAR   APR    MAY   JUN   JUL   AUG   SEP
   -4    -9    -7     7                                                 

Real Estate Fund Strategy

The tax sale day was September 6. I decided I did not need any sales to improve my tax situation.

The purchase of 20 IYR18C83 on 09/23/16 for $8,884 is included in the 08/25/16 purchase:

Portfolio

                      DESCRIPTION                 START        END OF MONTH
14 IYR17C72     iShares US Real Estate      08/25/15   6,375  09/30  13,230
42 IYR17C76     iShares US Real Estate      10/23/15  18,395  09/30  24,990
33 IYR18C72     iShares US Real Estate      02/25/16  17,359  09/30  36,465
14 IYR18C75     iShares US Real Estate      12/15/15   8,237  09/30  13,440
28 IYR18C76     iShares US Real Estate      11/25/15  15,438  09/30  22,280
14 IYR18C80     iShares US Real Estate      06/24/16   7,565  09/30   8,036
40 IYR18C83     iShares US Real Estate      08/25/16  19,448  09/30  17,200
14 IYR18C85     iShares US Real Estate      07/25/16   7,719  09/30   4,746

Capital gains

Thousands of US$
  OCT   NOV   DEC   JAN   FEB   MAR   APR    MAY   JUN   JUL   AUG   SEP
   10    -2     2   -15    -5    35   -10      9    36    35   -28   -19

Easy Strategy

Portfolio

The Easy Strategy portfolio was sold because the January Barometer was negative. The proceeds of $119,948 will be reinvested on October 10.

Capital gains

Thousands of US$
  OCT   NOV   DEC   JAN   FEB   MAR   APR    MAY   JUN   JUL   AUG   SEP
   18     3   -22   -39    -1    35    12