It was another respectable week for the portfolio, exceeding the return of the S&P as has been common this year. Special performers this week were BluePhoenix Solutions (BPHX) up 15% and Vimplecom (NASDAQ:VIP) up 9%. As the year draws to a close, it doesn't look as though the market will tank as many predicted. Regrettably, I over-hedged with (QQQQ) 49 puts, which will likely expire in January.
Who could complain about a 50% return for the year though? I know, this sounds lofty; I have to qualify this with the amount of risk I took on to accomplish these returns. I've held primarily international and technology shares, which have performed spectacularly. Several holdings performed in the 150%-200% range, but I don't anticipate sustained performance in that genre, so I started to unload shares in general around September, especially Crox, Garmin and Chinese shares. Occasionally, I benefited from options plays and closing out put hedge positions at the right time and then opportunistically buying back in at the trough.