Bohr Portfolio Review: 15 September 2025

Wine grapes ready for harvest.

This is going to be a busy two weeks for portfolio updates as ten accounts are schedule for review.  This morning it is time to check in on the Bohr portfolio.  As readers can see from the pie chart below, the Bohr is holding nearly the entire portfolio in short-term treasuries (SHV).  While this is stifling performance as the market moves upward, holding cash is the cautious position until the tariff chaos settles down.  A cut in interest rates is likely to give the market a boost, but the cut might already be priced into the market.  Should the cut not materialize the market will likely take a dive.

Bohr Asset Allocation Mix

Pardon the erratic cut and past for the asset allocation screenshot below.  The software is acting up when trying to cut a page out of an Excel™ worksheet.

New cash was added to the Bohr and I used it to purchase more shares of SHV.  Over the next few months we will have a better idea how the overall economy is performing.  If it continues to do well I will begin to shift shares from SHV into equity ETFs.  Right now I think it is too early to make this move.

Bohr Performance Data

The Bohr continues to lag the AOR benchmark and will continue to do so if the market continues to move up.

Bohr Risk Ratios

Why is the Treynor so negative.  If the portfolio has a low beta and is losing ground to the benchmark the Treynor goes wild to the downside.  Were the portfolio besting the benchmark with a low beta the Treynor would go wild to the upside.  This particular risk ratio is highly dependent on the portfolio beta and it is the primary reason I consider it to the the least reliable of the four metrics.

The positive news is the slight improvement in the Jensen Alpha over the last few months.

If anyone has a suggestion for a good cut and paste free software program for Windows, please post it in the comment section.