Thursday, January 12

Despite the overall market downturn (DJI down 0.32%, SPX down 0.21%) we managed to gain a net 0.01% today. This growth came due to our decision to acquire positions in five separate commission free ETFs through Schwab brokerage – the days drawback caused each of these five to trade at a net discount to their NAVs (their values fell faster this morning than the value of their holdings). Since this was a condition that could not be sustained each of these were strong buy candidates this morning. By noon the difference had evened out, but we intend to hold our position in these assets for the time being.

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