Thursday, May 2, 2013

Rik Green's Investors Forum Growth Portfolio down 5.1% in April

RG's growth portfolio <Port-faux-lio> lost 5.1% in April and the S&P500 gained 1.8%.  CVX was up 2.6% while GG, PSLV, PHYS, and CEF suffered from the precious metals smack-down in mid-April.  Gold and Silver finished April down 7.5% at $1,477 and at $24.33 down 14.1% respectively.  The low for gold of $1,348 and silver of $22.77 was on April 15th.  

Year to date the port-faux-lio is down 5.2% and the S&P 500 is up 12.0%.  CVX hit an all time high of $122.01 at the end of April.   You may remember that I was consider shifting from oil to precious metals last month partly because oil hit a high of $121 on March 22nd.  Fortunately, I did not pull the trigger.  The smack-down of precious metal prices in mid-April has created a better entry point.  

I remain confident that precious metals are the best place to protect wealth.  Gold and silver prices will go up just as fast as they went down in mid-April.  The question is when.  While I wait for a clear sign, CVX and oil are a good place to park my money.  It pays a nice dividend and should continue to appreciate as central banks continue purchasing equities.

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