OUR MAY RESULTS
Our weighted average return in May was +0.66%. Since 2015, we have generated a net return of +34.59%.
In terms of investment strategy performance, our weighted average net returns for May were (a) -0.91% for conservative strategies, (b) +0.04% for balanced strategies, and (c) +2.39% for aggressive strategies.
The dominant theme in May was the continued resurgence of the US dollar, which gained 3.5% versus the euro. The media attributed this move to political strife in Italy and Spain, but the fact of the matter is that the US economy is doing extremely well. First quarter earnings for the S&P 500 rose by 24% versus the same period last year and the flash manufacturing purchasing managers index also rose in May.