Investtech.com

The results of the Model Portfolios for the fourth quarter, 2007 (10 January 2008)


By Geir Linløkken, Head of Research

Investtech's Model Portfolios fell in the fourth quarter with, on average, 1.4 percentage points in relation to the reference index. The portfolios for Norway and Sweden showed excellent results, with returns of respectively 5.7 and 10.6 percentage points better than the index.

Stockholm -6.3%+11.0% -5.0%+10.6%+10.2%
Helsinki -1.0% +7.5% -7.9% -6.7% -8.2%
Amsterdam +0.7%+12.5% -2.6% -9.1% +1.5%
Copenhagen -1.1% +3.6% -6.3% -4.1% -7.9%
Oslo +1.5% +6.9% -6.0% +5.7% +8.1%
London +2.6% 0.0% -7.2% +1.4% -3.3%
Frankfurt/CDAX +3.6%-17.3% -3.8%-11.1%-28.6%
Nasdaq +7.9% -5.8% -6.4% +2.2% -2.1%
Average +1.0% +2.3% -5.7% -1.4%-3.8%
*Excess returns for the portfolio in this quarter, before commission, in relation to the reference index. These are calculated as percentage point excess returns so far this year, minus excess returns for the previous period.

For the duration of this period, emphasis has been placed on the shares in the portfolio reflecting the market’s composition, and the risks for the portfolio being of the same degree as those for the market. We believe the poor result for the last quarter is first and foremost due to statistical coincidences. It can also be due to the market, on the whole, being negative (moving sideways) during the period, since buy signals (which are often the reason for stocks being chosen for the portfolio) in such situations seldom give results.

The strategy use previously is still considered to be good.

  • Stock picking, however, try not to deviate too far from the index, especially when the index is negative or neutral.
  • Buy stocks in increasing trends for medium-long/long term, or at a confirmed break in a formation, or break through resistance.
  • Use caution when buying at support within falling markets. Sell at resistance within falling markets. Use caution when selling at resistance within rising markets. Buy at support within rising markets.
  • Let the profits run, but cut losses quickly.
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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