The TS Model Growth and Income Portfolio Report has now been posted.
The TS Model Growth Portfolio is off to a positive start with a slight edge in performance YTD over the S&P 500, TSX, and the Vanguard Total World Equity fund.
Our two main concerns in this year are the US Presidential election and eventual fall of interest rates.
Our analysis still points to the expansion phase of the business cycle. This stage favours industrials, communication services and financials. Evidence of the next stage (slowdown) appears to still not be affecting the the markets. We have added two sectors that perform well during this late market phase, healthcare and consumer staples. If evidence of the slowdown phase increases, we will add to those positions.
Currently there are 15 holdings in the TS Growth Portfolio and 4.3% in cash.
The Income Portfolio continues to perform well. The average dividend yield is 7.96%.