I’m going to start something new today.
I had an inkling to try to find a website or app where I could setup a model portfolio and compare it with the performance of others, like a competition, as I’m fairly confident that I can be in the top 10% of traders/investors this year in regards to performance. Doing this could also be an education for people who follow me. We’re in a time of big market volatility, which few have adjusted to at all, but in the end will lead to incredible buying opportunities. We’re also seeing bull markets in gold, silver, and other commodities which most are ignoring.
I tried to do something like this a few years ago with Robinhood, but it’s too clunky, with little meaningful information to display on it, and I need something designed to do just this sort of thing. I did a search of the most popular apps and it looks like TipRanks.com will do what I want, so I set it up with some initial positions this weekend and will talk more about it once it gets going.
This isn’t exactly the best time to start with the market action Friday, but you gotta do it sometime somehow.
My idea is to use ETF’s to control risk in the account and then eventually move to long in positions in individual stocks.
Here is the allocation I’m starting with this May 1, 2022.
Now this allocation partly reflects how I have my IRA invested right now. It has these positions, with this size in PSQ, RWM, DBA, and IAU right now. I don’t own SGOV, instead I have positions in GDX, RWR, and XLE.
I plan on buying individual stocks in those sectors with this model portfolio instead of those ETF’s and having a large position in SGOV is a way to have a big cash position to start this.
Yes, in my IRA I’m roughly 33% short right now via these ETF’s.
In my main account I’m roughly 45% long and 45% short at the moment.
This isn’t a recommendation to run out buy all of these on Monday’s open. In fact, I don’t know if I would buy these Monday morning as I entered these short ETF’s weeks ago with the market at higher levels then where it is now, but I need to start this with some positions.
What I may do is add more short ETF’s to this “Public Portfolio” when there is a good enough market bounce or rally that I think there is an entry point on the short side.
i cannot predict when that will actually be, though.
Also I bought DBA, IAU, GDX, XLE, RWR back in 2020.
I’m just getting this going with what is close to a 40% cash and 20/20 long/short allocation.
Cash is needed to take new positions and build this portfolio and to lower the portfolio volatility to start, but I need some positions to get this going so that a performance tracking record can begin on this TipRanks.com website.
The SGOV position is really a way to limit the volatility in the portfolio and I’ll remove it at some point.
More about all of this to come, I’m just posting this a a record that I started this today.
I’ll do a video and publicly reveal this in a few days as I need to see how the TipRanks.com will actually work for a few days first.
-Mike
