Rutherford Portfolio Review (Tranche 2): 15 March 2024

Geothermal Hot Springs, Tarangoa, New Zealand

As  mentioned in my reviews over the past two weeks we are seeing resistance at ~5200 in the SPX (S&P 500 Index):

and prices have remained in this general area over that period. US equities actually closed down slightly on the week (~0.3%) but managed to outperform most other major asset classes on a relative basis:

Only commodities performed better due to a surge in oil.

Current holdings in the Rutherford Portfolio look like this:

resulting in the following performance:

We’ll check the rotation graphs to get a feel for what’s happening in the markets:

and see a continuation of the rotational trend out of the desirable top right quadrant.

Recommendations from the rotation algorithm look like this:

with a continued bias towards global equities. Adjustments to Tranche 2 (the focus of this week’s review) will look something like this:

where I will be selling current holdings in AOR (the benchmark fund) and using the Cash to get back into GLD (Gold). I will not worry about the minor adjustments to the equity ETFs (VTI, VEA and VWO).

DBC just misses out on the selection process (due to the 4 asset rstriction that I have in place for this portfolio) despite it’s high Score (9) and recent strong performance. We’ll see whether the oil markets cool off next week.