On Tuesday the 4th we sold all equity positions in our model portfolio. On April 30th we also tendered all shares of XOSAX. We continue to hold only two income/high yield bond fund positions. Our bond positions are much less volatile than the stock market. Given the reemergence of extreme market volatility we will be watching our remaining positions very closely.
The risk management systems we have in place definitely did a great job of protecting our client portfolios today. Our analytic tools and indicators gave us warning signs and we heeded those signs.
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