April 2021 performance update
Hi folks, here with a performance update for April. First, the key monthly numbers:
Prime: +2.34%
Select: +1.30%
SPY: +4.74%
Bogleheads (80% VTI, 20% BND): +3.62%
As the numbers make clear, Prime and Select were both up, which is always good, but they also underperformed both the market and the alternative, lower-risk “Bogleheads” benchmark (a sub-optimal monthly result, but also a rare one based on the longer history of our performance results so far). The numbers do obscure a bit the fact that things were looking pretty good until the last trading day of the month. In fact, Select was beating all three of the other portfolios above for almost the entire month and continuing its trend of catching back up to the market until Twitter reported quarterly earnings on Thursday, missing the mark on user growth. TWTR plummeted on the news, and ended up down ~15 percent for the monthly, which you can see in the gray line on the chart below.
In any case, with April now in the books, it’s worth noting that we’ve officially completed one full year of issuing picks and tracking performance here at Stoney Point. Needless to say, stocks had an exceptional run in the last 12 months. While I don’t expect Prime to deliver a 60%+ return in the next 12 months (and certainly don’t expect the market to deliver 50%, given the long-term historical yearly average of around 7 percent), our first year’s performance is a great track record to carry ahead. In the next year, I’m hopeful for a similar level of monthly alpha generation in the Prime portfolio, and for Select to converge to or even surpass SPY on a cumulative basis. All the while, I expect significant behind-the-scenes developments at Stoney Point as an enterprise.
Most of all, thanks for your readership and support!
