I have been quiet recently regarding the management of the Covestor Margin of Safety portfolio because there hasn’t been much to talk about. The economy continues to slowly chug along with housing showing strength – though perhaps not as much as we’d like.
Rising interest rates may have put a damper on home buying recently, but we suspect that will be temporary, as the demographic pressures are just too great to resist. Mortgage rates are certainly not high by historical standards.
Stocks had a rocky summer, although we hesitate to call it a correction. Still, we have been and continue to be happy to maintain at least a 10% cash position for the screaming bargains that will inevitably come at some point. Great investment ideas have been hard to come by, but there are always a few on the horizon.
Our current top 4 holdings in the Margin of Safety portfolio:
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