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I used to be quite enamored of EFA (worldwide equities outside of North America), but the damned thing just kept hitting lifetime highs every day, so I walked away. It has gone up nearly 25% since last month (!!!), and I’ve stretched the chart to project when it would hit its multi-year trendline. It still has room before it does so, and even when it does, I suspect I won’t touch it with a ten-foot pole. It’s………nuts.
In the midst of the – – excuse my frank and honest language – – complete horseshit that went on during this trading day due to the not-even-a-little-important UK trade deal, I managed to strap on a pair and actually short some equities. I’d like to high two of them: EFA and XLB.
Truth to told, although there were some truly new positions (like PLTR) these two ETFs already existed in smaller size in my portfolio as of yesterday, but they behaved well enough that I wanted to add to them. The first one, EFA, pulled off the virtually miraculous feat of going down on the day. Indeed, I did a premium post about EFA just yesterday.
