Sleepy 1Q-2005

The Sleepy Portfolio had a really sleepy quarter, advancing just 0.7%. Income of $440.28 or 0.4% from dividends and interest accounted for bulk of the gains. The TSX on the other hand posted an impressive 3.96% gain paced by the strength in the energy and mining sectors. The S&P 500 lost -2.59% during the quarter.

My personal portfolio (I am still working towards getting an asset allocation similar to that of the Sleepy portfolio) posted a 3.5% gain. I did two transactions in my accounts: I sold half my investment in Canadian Natural Resources (TSX: CNQ) and bought Anheuser Busch (BUD) with the proceeds.

I currently don’t own any bonds or any REITs. I think they are overvalued and a good buying opportunity will present itself sometime in the future. However, I do plan to slowly work my way towards my target asset allocation.