The Sizemore Global Macro portfolio combines a top-down macro analysis with a rigorous emphasis on value. The portfolio will be primarily weighted towards common stocks, though all major asset classes will be considered. The portfolio will invest in both U.S. and foreign markets.
I attempt to identify powerful macro trends that are driving the global economy, then make investments to profit from those trends. My strategy also involves taking advantage of short-term mispricings as part of our effort to generate higher returns with less risk. Like Warren Buffett, I attempt to be greedy when others are fearful and fearful when others are greedy. And like legendary speculator George Soros, I attempt to identify trends with false premises and bet against them.
In taking a "Big Picture" approach to portfolio management, I augment our traditional investment analysis by considering factors such as geopolitical developments, historical precedents and demographic trends.
My research involves studies of many data sources, including, but not limited to company financial statements, research reports, financial periodicals, academic papers, security screeners and databases.
The Sizemore Global Macro portfolio is comprised primarily of stocks and ETFs. It will generally hold 15 to 25 positions which may over or under-weighted as part of the risk management process. There is no specific holding period. Some positions are considered "core" positions and will be held long term; others are more speculative in nature and will have shorter holding periods.
I will take profits on successful investments when I believe my investments are fairly valued or when I see better opportunities elsewhere. I may also sell in an effort to protect against a possible loss, or in an attempt to lock in a gain. The sell discipline varies from position to position based on the risks and characteristics of the investment.
Past performance is no guarantee of future results.
Performance of the portfolio manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions, and broker commissions. Manager returns include trades that fail Covestor's trading rules, do not reflect any Covestor suitability or risk score restrictions and are exclusive of Covestor fees. More
Average subscription returns ("Avg Sub" or "Avg Client") are calculated by Covestor and are composed of the average, daily, time weighted returns of all active subscriptions to the underlying portfolio. These daily average returns are then linked together for the timeframe requested. In addition, these returns include cash, dividends and earnings distributions, brokerage commissions, Covestor advisory fees, and reflect individual client suitability and risk score restrictions. More
All graph data is as of the end of day for the referenced period, unless otherwise specified. The subscription minimum is the minimum subscription required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs.
Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications (Approach, Asset Class) are provided by Covestor, and are intended to serve as a general guide.
These securities are currently held in the portfolio manager's brokerage account. Holdings in the "Replicable Holdings" table currently pass Covestor's trading rules, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription holdings may vary.
These transactions were executed in the portfolio manager's brokerage account. Those marked as "Replicable Transactions" passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription trade activity may vary.