U.S. stock markets spent the past week locked in a narrow trading range.
The Dow Jones closed with a slight loss of 0.05% for the week. The S&P 500 eked out a gain of 0.05% and the Nasdaq recovered 0.66%. The MSCI Emerging Markets Index pulled back a relatively modest 0.46%.
Overall, your Smart Money Masters‘ holdings fared much better than the indices. Navigator Holdings (NVGS) soared yet another 8.18%. Liberty Broadband (LBRDK) also gained 3.38% and “Baby Buffett” play Markel (MKL) also rose a solid 2.9%.
All of your positions except for Costco (COST) and Berkshire Hathaway (BRK-B) are trading above their 50-day moving averages and are therefore a BUY.
In yesterday’s issue of The Global Guru, I shared my views on Brexit and the United Kingdom’s official declaration last week of its intention to leave the European Union.
My head tells me that the bureaucratic overregulation stemming from Brussels makes the United Kingdom’s exit from the European Union a good thing.
My gut tells me that both Europeans and Brits will miss the ease with which they could travel, live and settle in each other’s countries over the past few decades.
With over 3 million Europeans living in the United Kingdom and 1.2 million British calling the sunny climes of Spain, Portugal and France home, many lives will be upended by this decision.
For many Europeans, it was a sad day, indeed.
And as the European Council President Donald Tusk, himself born in Communist Poland and a former Prime Minister of that country, said to the British people last week: “We miss you already.”
I also just returned from a week in Dubai in the Middle East’s Gulf region. My visit marked my second time in Dubai, and I continue to be impressed by the remarkable progress made by this tiny constituent of the United Arab Emirates. I’ll be sharing my detailed impressions in next week’s issue of The Global Guru.
Portfolio Update
Navigator Holdings Ltd. (NVGS) jumped 5.43% just yesterday as the market absorbs the implication of recent earnings upgrades.
Liberty Broadband (LBRDK)’s largest holding is a stake in Charter Communications (CHTR). The cable company plans to add 20,000 jobs in the United States by moving call center positions onshore, drawing praise from President Donald Trump at a recent White House event.
Sincerely,
Nicholas A. Vardy
