Friday, August 25, 2006

Sell RRPIX

Some time ago I recommended the Profunds Rising Rate Opportunity Fund (RRPIX) based on growth and inflation trends. It has provided the Finance Wonk portfolio with a good hedge against inflation, but the economy seems to be softening so it doesn’t make as much sense to hold it anymore. The housing slowdown will put weight on interest rates and slow down inflation, and durable goods orders have decreased a bit.

I am therefore recommending that if you bought RRPIX on my recommendation now is the time to SELL.

I will be selling my position today. The fund hasn’t really moved around, although I feel that it was a good idea to have an inflation hedge in the portfolio for the time we held it.

Invest well,

FW
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