Published Sun, 04 Aug 2019 20:38:46 -0400 on Seeking Alpha
July 2019 was another month that was hard to predict as the market held its breath for the Fed rate decision. At the risk of sounding like a broken record, I again underperformed the S&P 500 (1.4% vs -0.8%), but this was my first month of splitting directions with the market in a negative way. For me, it is still a battle between my quest for bargains (meaning stocks and markets that have had a hard time of it) versus the market that continues to punish the unloved and froth the values of the select few. The chart below summarizes the components of the S&P 500.
Source: S&P Dow Jones Indices
As if that we’re enough, the international returns were (again) bad enough to make me wonder why I am even bothering.
As you have now heard, the Fed decided to enact a midcycle cut of 25 bps. While the logic of this move still beguiles me, this action had been anticipated (or even more) for some time, so there was no a major impact on the market. However, President Trump’s fresh volley in the trade war with China had a more pronounced spooking effect on the market. While the day to day drama of politics continues to dominate the headlines, it is tough to find any real signal in all the noise. I continue to believe that a defense (yet invested) posture is the right one for the time being. Sometimes it's better to just distract yourself instead of doing something crazy...
July 2019 Review
July 2019 was another solid effort for the... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|NEW RESIDENTIAL INVESTMENT||14.98||18.0||0.83||2.00||13.28|
|TANGER FACTORY OUTLET CENTERS||16.50||21.4||0.77||1.42||8.35|
|SABRA HEALTHCARE REIT||22.49||204.4||0.11||1.80||8.28|
|BLACKSTONE MORTGAGE TRUST||36.16||14.5||2.49||2.48||6.94|
|SPDR S&P INTERNATIONAL DIVIDEND ETF||39.21||0.0||0.00||0.00||5.78|
|PEOPLE'S UNITED FINANCIAL||16.06||12.3||1.31||0.71||4.52|
|BANK OF AMERICA||29.67||10.6||2.80||0.72||2.45|
|ISHARES DOW JONES INTERNATIONAL SELECT DIVIDEND INDEX FUND||31.06||0.0||0.00||0.00||0.00|
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