Articles on investing and capital management, with a quantitative focus.
Growth Portfolio Annual Update
My Growth portfolio outperformed the TSX in this time period. Several holdings no longer meet my screening criteria and have been replaced. After today's adjustments, the portfolio holds:
|Stock Symbol||Company Sector|
Ideally, the positions should have equal weights. To minimize trading, I don't adjust position sizes if they are reasonably close to equal.
To reduce turnover and trading costs, I am switching to annual updates. Previously, I was updating the portfolio ever 6 months.
The lifetime CAGR (compound annual growth rate) since inception is 9.5%, compared to the benchmark XIC at 4.0%. This outperformance is significant.
Performance is calculated for each time period shown. I use actual fill prices if there was a trade, or the bid price otherwise. Trade fees are ignored. The XIC return includes dividends, but the Growth return does not.
|Lifetime CAGR||3.4 yrs||9.5%||4.0%|
Alternative start date
Note that the first time period in the above table gives Growth a significant lead. In case this first period was a fluke, I will also calculate performance starting from the second period.
Here is the CAGR performance starting from 2017-06-19
|CAGR over 3.0 yrs||6.0%||4.4%||1.6%|
The Growth portfolio still outperforms, but with a smaller margin.
— Jem Berkes