May 26, 2009 –
Dumped most of the Ultralong ETFs. Thought gains would come as the market recovered but ended up eaten alive by the options degradation. Obviously the way to play these is to short the leveraged shorts and get this "rebalancing" degradation on the plus side.
April 24, 2009 –
Was asked to explain the impetus since the portfolio has outperformed with a vengeance for the past two months or so. There are outliers in this portfolio (that are described at least a little in the comments of each pick) but this is basically a leveraged basket of early recovery stocks & ETFs. [more]
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