Transcript
Hello, everybody, welcome to Friday, great to end, the week with a green shirt on the S&P 500 was up 1.66%. Today, most of that gain actually came in the last 30 minutes, the chart is really kind of wild, just straight up in the air actually great gains for the holdings that we have in our models, small cap pure values at 3.4% energy was up, the other small cap piece was up, really everything was up except for leisure, entertainment, there’s there’s one stock in there, that’s having some trouble because they just issued new shares. So we’ll have to see how that plays out.
I love that portfolio is positioned so well for the reopening. Even though it’s underperforming and trying to hang in there, the overall trend for that portfolio is still very much so up. And so I’d like to give it some room to see what happens here. Because I do think we can make some great money out of that category. So what a week, I mean, we have a ship that stuck, you know, sideways, in the Suez Canal blocking, supposedly billions of dollars an hour of trade from happening, oil prices have coming up, which of course we made money on the energy piece from that. It’s just been crazy. And the gross stock piece seems to really be kind of fading here. As far as that goes, what was really working last year is not working so much this year. Even though some of these companies are coming out with a great earnings, we’re still seeing very much so softness in those areas, because that money is moving over to these reopening stocks.
And we’re there. And you know, we didn’t have a great time here for the last couple of weeks. But we certainly had a great time last couple days. And I’m hoping that you can kind of see what that means. And that that this could be the beginning of that whole run up a lot like what we saw last year, maybe see some good consistency coming up too. As things roll out. here in California, they just announced that you know, over age 50, you knows now anybody over age 50, April 1, anybody at all, after April 15, the vaccine is coming out. Matter of fact, they’re probably going to have more vaccine, then then they have people to give it to here pretty shortly. So we’re seeing that happen dramatically. And things are getting back to normal.
I mean, here, it’s just March, you know, a year from this, you know, pandemic and here we’re going you know starting to happen. And so we’re very well positioned for that the bond side of the portfolio, the last two days, all five pieces of the bond portfolio outperformed the total bond market index, we saw, you know, the inverse pieces go up, we saw the short term, you know, high yield, the short term tips and the short term governments all beat the, you know, total bond market index. So that’s, that’s really good news, too. So again, we’ve got these themes, it’s been I have to be a little bit patient about them for them to kind of come to fruition, we see the trend, so even that one leisure and entertainment that’s been struggling, since we bought it, the overall trend is still good. So that’s important. And so you know, we’re just kind of have to keep going. And it’s really, really, I think, a powerful portfolio. It’s one of the portfolio’s that I’ve had, you know, that I look at and I have just a lot of confidence in at this point in time.
Now, I try not to be so overconfident, I do look at the trends, you know, those types of things got to be really carefully cannot fall in love with your investments. I think that’s one of the huge errors that I see happen. But I look at this, and it just looks like it should do very, very well in an economic recovery and a reopening situation. And it seems to be you know, starting to happen now. So again, you know, we’ve got pure value, you got three pure value pieces, we got another small cap piece, we have regional banking. So regional banking is a really exciting area. The big banks are great. I love the big banks.
But the pure play, if you want to look at banking for interest rate increase, when its rates come up banking generally does well, the regional banks don’t have as many other pieces going on, as the big banks do that can sometimes cloud, you know that that pure play of that increase of interest rates. So we have that in there, we have two energy pieces, our ESG portfolio is marching along very nicely, pretty heavy focus there. Also on the value side, there’s a piece in there for water, which is doing quite well actually had a big day today. And so you know, water is becoming a big issue. It’s becoming an investment area.
So anyway, very, very good things going on amongst all of the pieces that we have very excited. So look forward to talking to you next week. And let’s see what happens to see how this continues to go. Thank you.