Tranquil Waters- Our 2014 portfolio took advantage of the very calm trading environment of the past three weeks to post a gain of 3.16%. More significantly, when stocks came under pressure on June 11 and 12, our positions weathered the storm and held on to most of their gains. In contrast, the S&P 500 gained 1.87% in the same period. Since its January 9 inception, our portfolio has risen 7.1%, while the S&P 500 has gained 5.4%.
Our biggest gainer since May 23 was JetBlue Airways (JBLU) which rose 12.3%. The end of winter weather problems, and the carrier’s introduction of its Mint premium service, combined to pique traders’ interest in this laggard of the airline sector. Linn Co., LLC (LNCO), picked up 9% as oil prices rose and the company took steps to shore up its 10% payout. (more…)