組合回顧:
組合今週沽出防守性的SCI及FCAP。加注MSFT及重新買入Visa。近數年MSFT office也採用訂閱制模式，收費不再一次性過，有助增強用家忠誠度及更難轉用其它公司產品。早前錯誤沽出Visa，嫌其估值偏高，不過看來電子錢包等也不會威脅到Visa & Mastercard的地位。目前環球風險胃納大增，組合必須減少防守性股票。
道指、標普500、納指ETF及北美指數追蹤基金佔組合47.65%。
展望:
估計聯儲局未來一年會將利率固定在1.5-1.75厘區間，過去數十年美國利率一頂低於一頂，可用的彈藥其實愈來愈少。
| 組合長倉持股(截至02-11-2019) | 比重 |
| 北美指數追蹤基金mpf (截至30-10-2019) | 10.88% |
| ETF: | |
| SPDR Dow Jones Industrial Average ETF Trust | 11.29% |
| SPDR S&P 500 ETF Trust | 10.00% |
| Invesco QQQ Trust | 15.48% |
| 科網軟件雲端: | |
| Microsoft Corp | 3.59% |
| Alphabet Cl C | 1.22% |
| 電子計算機: | |
| Apple | 1.97% |
| 半導體: | |
| ASML Holding NV | 1.56% |
| Taiwan Semiconductor Manufacturing Company Ltd | 2.00% |
| 風險管理: | |
| Verisk Analytics | 0.98% |
| 電子支付: | |
| Mastercard Incorporated | 1.61% |
| Visa | 1.39% |
| 銀行: | |
| First Financial Bankshares Inc. | 1.86% |
| JP Morgan Chase & Co | 0.61% |
| 垃圾處理: | |
| Waste Management | 1.71% |
| Republic Services | 1.83% |
| (Consumer Staples)飲食業: | |
| Starbucks Corp | 1.28% |
| McDonald's Corporation | 1.12% |
| (Consumer Staples)化妝品: | |
| Estée Lauder Companies | 0.72% |
| 家居裝修零售: | |
| Home Depot | 1.82% |
| 零售批發: | |
| Costco Wholesale | 1.71% |
| 油漆塗料: | |
| Sherwin-Williams Company | 1.67% |
| 悠閒康樂: | |
| Pool Corporation | 1.79% |
| 汽車售後組件零售商: | |
| O'Reilly Automotive | 0.84% |
| 運輸 - 卡車: | |
| Old Dominion Freight Line | 1.99% |
| 航天國防: | |
| Lockheed Martin Corporation | 1.82% |
| Transdigm Group Incorporated | 2.07% |
| Teledyne Technologies | 1.62% |
| 水務公用: | |
| American States Water Company | 2.26% |
| 電力公用: | |
| Nextera Energy | 2.26% |
| Unitil Corporation | 1.38% |
| American Electric Power Company | 1.80% |
| 天然氣分銷運輸公用: | |
| Atmos Energy Corp | 1.82% |
| 美元3個月定期+ 現金+人壽儲蓄保險 | 28.36% |
| 總倉位 | 124.32% |
| 淨倉位(長-短-現金) | 95.96% |
| 組合YTD(未計股價已除淨但未到派息日的股息) | 7.45% |
| Net Asset change (since 01-01-2019) | 19.46% |
| 恆指2019年YTD(截至01-11-2019) | 4.85% |
經過多月整固後，美股似要爆上一段，正路防守類別如utilities,Reits,Consumer Staples會跑輸
回覆刪除未來半年美股應屬安全期。
刪除不過組合又要保留少許防守性股票,以作未來跌浪再臨時,做些少緩衝。不過,近期呢類股份明顯對組合回報拖著後腿。