Correction to previous post

I am currently in Melbourne (got called out on reserve very early Sat morning) but have received several emails regarding my last ECAM blog.

When I made the last ECAM post it was done in a hurry (due to other commitments I had to attend to at the time). In do so I made an error in the specific description of the switch.

The description was "generically" correct (ie. a 50% repositioning of the account from USD cash into equities) but it appears many are following my moves to the letter. As such, I have discovered I need to be more specific.

Specifically, I switched out of Blackrock/MLIM US cash into the Fidelity International fund. This has rebalanced the account to a 50% equity/50% USD cash position.

As of today, here is my positional balance:

Fidelity International Fund: 33%

BlackRock/MLIM Equity Fund: 7%

Russell Global 90 Fund: 10%

BlackRock/MLIM USD Cash: 50%

The reason I chose the Fidelity International fund over the other 2 equity funds we have access to (Blackrock/MLIM Equity or Russell Global 90) is it's relative outperformance over the other 2 since the bottom in March and also since the bottom in July. The difference is only a few percent and, over time, will make little difference (as any one of the 3 funds tends to outperform the others for short periods; there is no clear "outperformance" winner in this group) so the choice of which specific equity fund to purchase is irrelevant.

When I return to DXB I will put up a few charts on why I have made this move. I will also go over my investment strategy in detail for those who are new to the site and are a little confused as to how I go about making my investments. I will also discuss how I manage my own personal "C" account through outside brokers.

Note I am NOT bullish on the long term and in no way do I expect this to be a long term holding position. I am still of the opinion we will see much lower prices in our future (when only time will tell) but there is still the potential for considerable further upside in the markets before this rolls over.

For those who are shadowing my moves, please assess your own financial position and risk tolerances before deciding this is what you want to do.