Performance {10.22.15}

Composites showing year to date returns of different asset classes we either own or follow.  I'm going to redo these charts at some point because they show to much in the emerging markets.  For today though they do a good enough job showing that not much has worked in 2015.

What has worked the most?  Nasdaq composite {+3.98%}, Euro-Pacific {+1.99} REITS {+2.38%} and Total Bonds {+1.51%}.  Note that REITS were crushed earlier in the year, found a bottom in September and has been on a roll since.  

What hasn't worked?  Everything else.  Worst of course has been emerging markets.  I'm beginning to think these warrant a closer look and more research probably needs to be done on these.

*We are long various asset classes depicted above via ETFs or via ETFs related to the S&P 500 in client and or personal accounts.  Positions can vary in accounts depending on account strategy and the unique risk/reward characteristics of our clients.