When the Bohr was last reviewed on December 28th of last year I knew I needed to update the portfolio before too many days transpired so as to account for all the anticipated fourth quarter dividends. This is that update. The Bohr differs from other ITA portfolios in that it is a blend of growth and income. This change took place 13 months ago so it is much too early to draw any conclusions as to how well this portfolio will perform. As we add more months of data to the Risk Ratio table we will slowly add to a body of performance knowledge. Consider the Bohr as another way to diversify the family portfolio.
Bohr Portfolio or Investment Quiver
Below is the current Bohr portfolio. While I’m satisfied with the VTI, VBIAX, VEA, and VWO holdings, I now need to go through the Closed-End-Funds (CEFs) to see if they are still generating the expected yield and how they are priced with respect to their Net Asset Value (NAV). These checkups make the Bohr more cumbersome to manage, than say the “do-nothing” Schrodinger. As for comparison with the Schrodinger, the very latest data shows the Schrodinger ranks #6 compared to #7 for the Bohr when using IRR as the comparison. However, the Bohr is less risky as it ranks #3 while the Schrodinger is #8. Watch these rankings over the next several months as they will change.
Bohr Tranche Worksheet
This Kipling Tranche worksheet plays a much smaller role in determining which securities to purchase as the Bohr is essentially a Buy and Hold portfolio. If the CEFs meet the yield and NAV requirements, I’ll resort to this worksheet to see if the security is a Buy. As you can see from the table below, many of the CEOS are recommended for purchase.
The green arrow indicates I am using a much longer look-back combination. In addition, I’m applying the LRPC model as it tends to generate fewer trades and that is what I’m looking for with the Bohr.
Bohr Performance Data
Over the last 13-months the Bohr has performed quite well, generating an IRR of 19.8%, whereas the AOR benchmark is only 12.4%. Once more, not all benchmark data is coming in. I hope this is rectified sometime this week.
Bohr Risk Ratios
While the Jensen Performance Index slipped over the past two months, the Sortino Ratio has grown slightly. Improvement in the Sortino indicates the portfolio is increasing in value. The slope of the Jensen is quite high and will be difficult to maintain throughout 2022.
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* The old De Soto looks similar to the 1939 Plymouth three of us drove from Spring Grove, Pennsylvania (near York) to Fairbanks, Alaska, and back, in 1955. We actually drove it very near Circle, Alaska, which is inside the Arctic Circle, hence the name. During this trip we had over 4,000 miles of gravel and dirt road as most of the roads north of Edmonton, Alberta were unpaved in 1955. All roads we traveled in the Yukon Territory were gravel, as most of it is the Alcan Highway.
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