February Results (approximate)

It takes a bit of time to crank out the numbers so because of Feb 28th scheduling conflicts, that day will be lumped in with March.  With that caveat in mind, Fiat Fantasy garnered a return of 3.4% in February, a smidgen under the S&P 500.   This was the second best month recorded by Fiat Fantasy.  Precious metals and hard assets did exceptionally well.  Bonds and emerging market equities were laggards.   We launch into March overweight precious metals, hard assets and cash; underweight emerging market equities and yield generators.

By the way, there's some buzz that the decline in emerging markets is the first sign of big trouble ahead.  Here's one take on the theory if you're curious.  There's agreement that the emerging markets have hit a speed bump, that's the easy part.  What happens next, well, not so much agreement.  Keep your eye on how QE3 is being played-- that's the key.

Comparing Fiat Fantasy and the S&P 500 is OK, but I now want to start measuring up against an investment with a broader scope.  Earlier this week I railed against the Dodge & Cox Balanced Fund (DODBX) noting my past losses in DODBX resembled a crime scene.  Eureka--  why not track how we perform against our old buddy DODBX.  February results are in as DODBX gained .9%-- chalk one up for the good guys.