Roundup 2019 CW 15

I have just watched a documentary about Theranos. The HBO documentary The Inventor: Out for Blood in Silicon Valley looks inside the rise and fall of Theranos, a health care startup promising a miracle blood test that was revealed to be a multibillion-dollar fraud. If you not already have seen it, I strongly recommend you to see it now.

The portfolio

Still weaker compared to SIXRX which seems to rise like a rocket this year. The portfolio has leverage by 4.27%. I have added to my gold positions and also opened a small position in ETFS Coffee (COFF). This ETC is designed to enable investors to gain exposure to total return investment in coffee.

The price of coffee has never been so low on the market. How deep could it sink?

Market Roundup

U.S. markets ground higher this week, aided by a Friday rally on the back of bank earnings that served to increase investor optimism as the results pointed to a U.S. economy that remains resilient with little evidence of a recession anytime soon. That said, while the U.S. economy remains robust, the global economy continues to be under pressure, with the International Monetary Fund, this week, lowering its projections for global growth in 2019 and 2020 to 3.5% and 3.6%, respectively — representing a downward revision of 0.2 and 0.1 percentage points in 2019 and 2020, respectively.

Treasury yields edged up to ~2.55% while gold prices dipped to about $1,295 per ounce level. The dollar index held around the 90 level while WTI oil prices pushed to roughly the $64 level.

Friday morning, before the opening bell, JPMorgan Chase reported a top and bottom-line beat with its first-quarter 2019 results. On the top line, managed revenues of $29.85 billion (+4.6% YoY), beat expectations of $28.44 billion and on the bottom line, diluted earnings per share of $2.65 (+11.8% YoY), exceeded estimates of $2.35 per share. The portolio has 2.6% in JPMorgan Chase.

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