Dollar and defensive stocks rebound

After several weeks of lethargy, our portfolio regains some color, thanks to a very good performance defensive values and a slight rebound in the dollar. Profitability since February 2010 is still negative with the CHF as the reference currency, however, in euros, it exceeds that of the CAC 40, with a significantly lower volatility. We thus obtain in the single currency a better Sharpe ratio than the market, which corresponds to our long-term objectives.

A lull in the greenback would be welcome and would also allow us to achieve these objectives in Swiss francs. The dollar has indeed suffered a loss of more than 16% against the CHF. since the launch of our portfolio. In these conditions it is more than difficult to obtain positive returns. Despite everything, some of our stocks are managing to do so, such as VFC, KO, CTL, ADP and MCD. It should also be noted that defensive stocks have been on the rise since March and that this phenomenon was particularly marked last week:

The rebound of the dollar and especially the concomitant fall in oil prices have made commodity-related values more attractive. Thus, Enbridge took the opportunity to move up a class in the titles to watch, which pleases us because this value has undeniable qualities in terms of yield and dividend growth, low volatility and very good protection against the risk of a fall in the greenback.

Regarding the site, the first results of our survey show as we had thought that the press review did not meet with a favorable response, which is why we have deleted it. The survey will remain open for a few more days, so take the opportunity to participate if you haven't already. We will then present the results and the corresponding measures.

Finally, we would like to apologize for the numerous outages of the site in recent days, which were completely beyond our control. Our host had to perform some technical updates that did not go very well. Apparently, this seems to be back to normal at present.