The Rutherford portfolio has been 100% invested in Cash for the past 33 days and so there has been no action – we have been watching all the excitement from the sidelines – which was probably better for our hearts 🙂
The horizontal blue lines show the periods when we have been in cash – in this period we have seen the benchmark VTTVX fund drop significantly.
Without using Options (solid blue line), our performance is reflected in the following screenshot from the TLH tracking SS:
Perhaps not great, but better than all benchmarks and major references over the same period of time (11 months).
Adding a couple of Option hedge trades improves our performance (dashed blue line) giving us an 8% IRR over the period:
Not surprisingly, no Rutherford assets are presently ranked higher than SHY:
In fact, no assets have been ranked higher than SHY should the portfolio have been reviewed at anytime in the past 12 days:
This month’s investment decision is therefore simple – we shall stay on the sidelines and watch what happens.