Financial Letter - August 10th 2020
284th issue (since 2015/01/24)
(1) We offer portfolio management services for futures market accounts with a minimum of 25K USD or the equivalent in CAD.
(2) CKL Inc. offers an actively managed portfolio with US ETFs combined with option strategies. This portfolio requires a minimum of 250K USD or the equivalent in CAD.
(3) And evidently we offer high quality long term portfolio management with low fees (0.9%). This portfolio requires a minimum of 100K CAD.
*No transfer of funds required.
For more information on any of these portfolios, write to us at info@charlesklangford.com.
What's new (Fall 2020)
CKL Inc. is offering training programs, intensive courses, webinars and live trading sessions in partnership with Desjardins Online Brokerage. These courses are offered in french. To view the calendar of our upcoming events follow the link below:
http://www.charlesklangford.com/en/services/seminars
S&P 500 Index - The Center of the World's Financial Solar System
The S&P 500 index (SPY and derivatives) rose by 2.5% for the week of August 3rd. The hype for the technology and communication sectors continues this week as better-than-expected returns from compagnies in these sectors pushes the market up for a second week in a row. The unemployement rate fell from 11.1% to 10.2% this month and even lower than the consensus estimations. The best performing sectors this week was the Industrials Sector and the Financial Sector.
*Due to technical difficulties the charts are not available this week. Visit stockcharts.com to view the charts.*
The SPY has returned to its historic high levels of end of February before the Coronavirus. However, the five highest capitalized compagnies of the S&P 500 named S&P 5 (AMZN, AAPL, GOOG, MSFT, FB) largely contributed to this rise and the 495 others were barely positive. This shows us that the S&P 500 is losing it's diversification power. The VIX is positively falling but still superior to 20% (22.21%).
VIP accounts (CKL0522 ETF) - 2020/08/10 - Min. 250K US
Week of August 3rd 2020
This week we liquidated half of our support and added a second support on gold. We added an option strategy to each support that benefits if the support slightly rises, slightly falls or stays at the same level. We closed the all positions on the 7th of August with a profit.
Weekly profit/loss on the closed positions:
Profit on the first support (market index) : 3,092$ US
Profit on the second support (gold index) : 3,782$ US
Loss on the options strategy of the first support: -1,288$ US
Loss on the options strategy of the second support: -48$
Net weekly profit : 5,542$ US per client
VIP accounts (CKL0522 Futures Market) - 2020/08/10 - Min. 25K US
Week of August 3rd, 2020
This week we kept our micro contracts on gold for our clients with futures market accounts. Depending on the value of the accounts, we bought mulptiples of these contracts last week. We closed these contracts on August 7th.
Profit of the micro contracts:
Level 1 clients (2 MGC): 868$
Level 2 clients (4 MGC): 1,736$
Level 3 clients (6 MGC): 2,604$
Net weekly profits on closed positions:
Level 1: 868$ US per client
Level 2: 1,736$ US per client
Level 3: 2,604$ US per client