Author: Patrick Larkin
Covestor model: All Cap Value
My All-Cap Value model trailed the market in July. From inception through the end of July, the model's returns roughly matched the S&P 500.
I didn't make any changes to the portfolio in July. Despite the portfolio's poor price performance, I don't detect any evidence of a deterioration in the long-term earning power of any of my holdings since the end of June.
The value approach is not always easy to stick with, but I remain confident that the model will deliver very strong results over any three-year time horizon.