Weekly Performance Update: Week of 9/2/24
- Acrux Capital
- Sep 7, 2024
- 2 min read
Updated: Sep 21, 2024
Market Recap
Big down week for the markets, as recession fears took center stage. Friday saw a miss in private payrolls, that while not super profound in terms of numbers, added to the sentiment. Of note for the week was the yield curve un-inverted, which based on historical norms has been followed by a recession and correspondingly large corrections in the market. Is this time different? We shall see.
Our Overall Performance - Big Picture
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Overall very consistent performance for the Core Strategies week-over-week. While each one is definitely young in terms of their inception dates (July 1, 2024), they are performing very well, especially in context of how the market has behaved during the same period.
Of note is Pure Alpha is up 106% on its Risk Budget, so it took about 10 weeks to double. At this rate, and considering clients may scale each time the initial Risk Budget is captured in terms of gains, this equates to a 3,100% compounded annual return. This is merely a projection (not a promise for future performance), and of course things don't happen in a linear fashion, but as a goal this is attainable.
Our Performance this Week
Solid week
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For more detailed performance check the following: Strategy Performance Page
The Week Ahead/Outlook
Busy week for Econ Data with CPI (Wed) and PPI (Thu) at the top of the heap in terms of relevance. The week after the FOMC meets (September 18th) and it now seems consensus is split on a 25 versus a 50 bps rate cut. As mentioned at the open of this entry about recession fears, this is likely the number one indicator of reality for markets. If they get scared and go too aggressive, signaling panic, the market will likely punish investors. We will do great but many will not.
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