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When Will It Ever End?

Last year was certainly a joy for equity investors. I did about as well as the S&P 500, and would be glad to have another such year!

It's hard to imagine another year without a correction. All I can say is that there's no sign of one on my radar.

PRHSX, acquired 2/6/12, is clearly my big winner, up 64%. ARGFX, purchased this past February, was also a big winner at 31%. In June I bought SKSEX which is up 26% since then, and SSHFX up a more modest 17%. SMCDX, purchased in April, is up nearly 15%. I've held PRWCX for a year and gained nearly 14%. MRVEX, bought in July of last year, is unchanged, having made a huge distribution in December. New purchases this month include HDPMX, XLB, PKW, and DODGX.

My losers have been the two penny stocks, to which I fortunately committed very little money: AABVF and AXPW. From the former I learned that it's a good idea to sell near the top and not keep holding a small stock that's underperforming. I think that one will do well if we have a whiff of inflation. AXPW was always a gamble and could still pay off, but I certainly didn't find the best entry!

The above results don't count distributions, which were substantial: 11% for the year! That certainly sweetens the pot.

I plan to stay in equities as long as the current updraft is evident. I'll be ready to hit the silk when the market stalls. I certainly recommend journaling for all students of investing; it's like recording your voice or filming your golf swing: you need the objectivity to improve your technique.