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Over the last week, the S&P 500 is up by around 1.5%. Our portfolio has continued to outperform as it is up 2.5% over that period despite some profit-taking in energy names. However, these losses were more than offset by gains in our other positions.
The market and economy are in an interesting place. Everyone is panicking about inflation, a deteriorating growth outlook, and the Fed’s taper. Some believe that the Fed is committing a grievous policy error by tightening policy given that the economy remains weak, while others see the Fed as being hopelessly behind the ball.
