Just as we noticed in our first contest, we see changes already occuring with our Winners' Circle, as top spot from Week One has dropped out, and replaced by a new portfolio. Market volatility will do this, but most acutely will volatility of individual positions, and this can help or hinder any portfolio on any given week. With the S&P 500 Composite Index basically flat on the week (up a paltry 0.7% in USD terms), the TSX Composite Index showed a 1/2% gain while the NASDAQ showed the strongers run, up over 1% on the week (thank you AAPL!). But individual stocks, especially junior mining stocks, had quite a volatile week, with some gaining strongly while others faltered, and this caused the greatest changes to our leader board.
At the end of Week Two, we have a new leader, Adam M., whose portfolio generated a very impressive 12% return on the week, and is now up over 20% since the start of the contest. Heavy on mining stocks, especially in precious metals, the portfolio is positioned to gain as the Fed indicated continued long term low interest rates, which supports higher inflationary expectations that props up precious metal valuations.
In second place, we have Volodymyr V., who's portfolio gained 8% on the week, and who moved up one notch from third place last week. Haresh P. is holding onto 3rd spot.
Although not in the Winners' Circle yet, the best performances on the week came from Adam F., whose portfolio gained 27% on the week, reversing a 17% drop in Week One, and bringing his portfolio into the 8th position. Alexandra F. also gained over 20% on the week, and now sits in 11th position after a slow start in Week One. Both are within striking distance of a prize, especially given how quickly any portfolio can rise or fallen within a short period of time.
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