A Whole New World…….with first update
The market is opening in despair again this morning. Is it because the players know something or don’t know what to do? Thomas Friedman had a great article in yesterdays NYT on the change that is evolving. See http://www.nytimes.com/2009/03/08/opinion/08friedman.html.
We will have a lot more to say later today as we did not have a chance to complete some work over the weekend.
No change Friday on the EMA ETF Fund NAV.
8:32 AM CST
Leverage update at 8:50 AM CDT
This morning we brought our Eureka Conservative Portfolio up from a leverage ratio of 0.65 to a leverage ratio of 1.0, ie the face value of the positions equals the NAV. The Eureka Aggressive Portfolio and the EMA ETF Fund which we refer to in most of our posts has been running at a 1.5 to 1.8 leverage ratio for the past two weeks. Here are some relevant performance numbers as of 3/6/09.
S&P 500 Mkt Conservative Aggressive EMA ETF
Year to date: -24 % – 10 % -31 % -26 %
Since 10/8/07 – 56 % + 23 % + 10 % NA
Later today we will provide the Outlook paper we referred to earlier today.