Thursday, May 24, 2007

YTD

just checked ... the YTD performance of my MFs is as follows, ofcourse the numbers have no meaning in isolation - the context is set by the benchmark. for comparison, overall benchmark - S&P500 index is up 8.07% YTD

a very good year so far, but everyone is predicting a correction coming up this summer (it hasn't materialized yet, but its 'sell in May and go away' time!!). This is what Chuck Royce said in the Spring report from Royce Funds,
I’m more than pleasantly surprised by small-cap’s strong returns, especially since the Russell 2000’s low in October 2002. I am also very concerned because market cycles normally don’t run this smoothly. A look back at the current cycle shows two corrections that fell in the 10%-14% range—one in 2004-5 and another in 2006. These have been the most significant small-cap corrections during the past five years, with other downdrafts in the 7%-9% range. However, at the end of the day stocks can only elude history for so long. Although the market has seen fit to prove me wrong over the last few years, I remain convinced that a more historically typical correction of 15% or better is in the near future.

[all numbers as of 05/23/07]
FBALX - 8.82% - Fidelity Balanced
FCNTX - 8.14% - Fidelity Contrafund
FSENX - 21.3% Fidelity Select Energy
JETAX - 10.9% - Julius Baer International
MINDX - 14.8% - Mathews India
OAKLX - 7.05% - Oakmark Select (Large cap value)
RYVPX - 12.85% - Royce Value Plus (Small cap growth)
SSEMX - 13.3% - SSGA Emerging markets

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following funds in retirement accounts
FPURX - 6.7% - Fidelity puritan (balanced)
FFNOX - 7.7% Fidelity 4in1 index
HLEMX - 9.7% - Emerging markets
UMESX -21.1% - Energy
UMBWX - 10.6% - International

p.s. It was too good obviously - as soon as I wrote this, the market crashed :)