Market Performance Optimism

We remain optimistic about market performance and do not find justification for bearish sentiment that appeared under the fear-inciting Omicron news cycle.

Portfolio Rebalances

Master portfolio holdings have already been adjusted to meet our intended allocations for 1q 2022. We believe this “pre-emptive” approach to rebalancing will yield greater advantages for our Master Portfolio participants. It’s a change from doing rebalance inside the quarter, which has yielded lower % return results in 4Q 2021 due to the initial quarterly rebalance at the end of October. Why? Markets made great headway in the first several weeks of the October month, and we missed some of those gains. We’ve corrected our rebalance approach to mitigate that kind of missed opportunity.

Performance Results

Performance for the EXISTING Master Portfolio positions as of 12/27/21 for the 4th quarter is 17.7% return vs. 11.25% return for S&P 500. This figure is based on EXISTING positions, some of which which HAVE been adjusted recently amidst the quarter. Actual performance for accounts held the entire quarter or added during the quarter is beneath this number, as not all positions in the current allocation were present throughout the full quarter.

Reminder About Our Billing Policy

All client accounts that have investable assets are billed based on end-of-quarter balance. Our policy does not provide for billing refunds should there be reductions in account size amidst a quarter.

Don’t Miss 2021 ROTH IRA Contributions

Don’t miss the opportunity to open and contribute to ROTH IRA if you can for 2021. You need ordinary income to qualify for this contribution. It appears pending legislation will change the contribution rules for 2022+. Your contribution deadline is by tax filing date, typically April 15.

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