2022 Q1, total returns. All that glitters…
| ticker | type | 2022 Q1 |
|---|---|---|
| GLD | gold | +7% |
| CPI | inflation (est) | +3% |
| USD | cash | +0% |
| BTC | bitcoin | -4% |
| JNK | junk bonds | -5% |
| SPY | large caps | -5% |
| BND | bonds | -6% |
| PFF | preferreds | -7% |
| EFA | foreign (developed) | -7% |
| IWM | small caps | -8% |
| EEM | foreign (emerging) | -8% |
| QQQ | tech | -9% |
is gold, and everything else turns to lead. For inflation, I estimated for Q1 since we get the last, very likely much higher reading, in 2 more weeks. Jan and Feb were running at around 10-12% annualized rates, so don’t let the single quarter 2-3% CPI number lead you into a false sense of security.
I had a somewhat unlucky first quarter, with some hedges that didn’t work well as well as an unfortunately timed short squeeze, so I was happy to be doing reasonably well and still solidly positive if not topping these charts. Looking forward, I’m wondering why I don’t have more cheap oil and coal company stocks / futures / options…