2% fall yesterday

Lately, when the market rises, my portfolios lag.  And when it falls, my portfolios plunge deeper.  Yet, I see no good reason for the awful situation.  But you cannot challenge market irrational behavior.  People pay lots of money to fund managers to do stupid things with their savings.

Certain adages remain.  In the longer term, you never have to worry if you invest in profitable businesses.  Warren Buffett buys into management but we can only buy into little holdings of no consequences to the board of directors.  But if the board has proven its capability in generating good profits for a long, long time, then why bother telling the board how to run a company?  Luckily, I keep a chunk of my investments in the banks and well-run financial institutions like ASX and SYD.  All these pay good dividends, reliable and decent.

While China is not collapsing and while India is making some progress, it is hard to imagine that resource sector would collapse.  And while AUD:USD ratio and POG remain within a band, I can't see gold producers vaporizing.

So yesterday, my portfolios fell, too.  But for a change, it performed better than average...