AAII Model Portfolios Articles
Outperformance and 10 Changes for the Model Shadow Stock Portfolio
July 2026 by John Bajkowski
The model portfolio’s quarterly review results in five deletions and five additions.
July 2026 by John Bajkowski
The model portfolio’s quarterly review results in five deletions and five additions.
New Shadow Stock Addition and January Barometer Insights
April 2026 by John Bajkowski
The model portfolio’s quarterly review results in one deletion and one addition. Plus, a look at how performance differs from large caps for individual years.
April 2026 by John Bajkowski
The model portfolio’s quarterly review results in one deletion and one addition. Plus, a look at how performance differs from large caps for individual years.
Broadening Market Participation Benefits Model Shadow Stock Portfolio
January 2026 by John Bajkowski
Market rotation into smaller stocks and value stocks is reflected in the performance of the Model Shadow Stock Portfolio.
January 2026 by John Bajkowski
Market rotation into smaller stocks and value stocks is reflected in the performance of the Model Shadow Stock Portfolio.
Steady Going: No Changes to Model Shadow Stock Portfolio
October 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, no stocks were removed or added.
October 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, no stocks were removed or added.
Releasing Five Makes Room for Four in the Model Shadow Stock Portfolio
July 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, five stocks were removed and four stocks were added.
July 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, five stocks were removed and four stocks were added.
Replacing the Outdoors With Oil in the Model Shadow Stock Portfolio
April 2025 by John Bajkowski
Quarterly changes, plus a look at how the portfolio performed during the best and worst months over its history.
April 2025 by John Bajkowski
Quarterly changes, plus a look at how the portfolio performed during the best and worst months over its history.
Trading Electronics for Homes in the Model Shadow Stock Portfolio
January 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, two stocks were removed and one stock was added.
January 2025 by John Bajkowski
After the quarterly review of the Model Shadow Stock Portfolio, two stocks were removed and one stock was added.
Fall Changes Bring Satellites and Salons
October 2024 by John Bajkowski
Two deletions allow for two additions in the holdings of the Model Shadow Stock Portfolio during its quarterly review.
October 2024 by John Bajkowski
Two deletions allow for two additions in the holdings of the Model Shadow Stock Portfolio during its quarterly review.
Summer Portfolio Refresher: Swapping Five Shadow Stocks
July 2024 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio, there are five deletions and five additions.
July 2024 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio, there are five deletions and five additions.
Quarterly Review Prompts Getting out of RVs and Drilling Into Oil & Gas
April 2024 by John Bajkowski
Deleting a model portfolio holding for negative earnings clears the way to add an energy company.
April 2024 by John Bajkowski
Deleting a model portfolio holding for negative earnings clears the way to add an energy company.
Shadow Stocks Ride the Refreshing “Everything” Rally
January 2024 by John Bajkowski
The Model Shadow Stock Portfolio is now up 8.7% for the year through the end of November. Plus, the quarterly review prompted changes to the holdings.
January 2024 by John Bajkowski
The Model Shadow Stock Portfolio is now up 8.7% for the year through the end of November. Plus, the quarterly review prompted changes to the holdings.
Negative Earnings Prompts Turnover in Model Shadow Stock Portfolio
October 2023 by John Bajkowski
The three stocks removed for negative earnings are replaced by two additions.
October 2023 by John Bajkowski
The three stocks removed for negative earnings are replaced by two additions.
First-Quarter Earnings Prompt Change in Model Shadow Stock Portfolio
July 2023 by John Bajkowski
During the quarter, five holdings reported losses great enough to push their trailing 12-month earnings into negative territory.
July 2023 by John Bajkowski
During the quarter, five holdings reported losses great enough to push their trailing 12-month earnings into negative territory.
How Shadow Stock Metrics Have Evolved Over Time
May 2023 by Charles Rotblut
AAII's Model Shadow Stock Portfolio is based on data showing an advantage to investing in small and deep-value stocks.
May 2023 by Charles Rotblut
AAII's Model Shadow Stock Portfolio is based on data showing an advantage to investing in small and deep-value stocks.
Does January Portend a Good Year for the Model Shadow Stock Portfolio?
April 2023 by John Bajkowski
A look at what happens to portfolio performance by acting on the January Barometer.
April 2023 by John Bajkowski
A look at what happens to portfolio performance by acting on the January Barometer.
Influx of New Blood for Model Shadow Stock Portfolio
January 2023 by John Bajkowski
After removing four stocks during the quarterly review, six new stocks were added.
January 2023 by John Bajkowski
After removing four stocks during the quarterly review, six new stocks were added.
Market Favors Profitability, Plus Changes to Shadow Stock Portfolio
October 2022 by John Bajkowski
A look at the performance of stock market-cap segments and sectors over the last year shows a strong connection between recent profitability and price strength.
October 2022 by John Bajkowski
A look at the performance of stock market-cap segments and sectors over the last year shows a strong connection between recent profitability and price strength.
Adhering to Shadow Stock Portfolio Rules Is Vital in Shaky Times
July 2022 by John Bajkowski
Small-cap returns have been greater than that of large caps over the long term, but there are often streaks of outperformance followed by underperformance.
July 2022 by John Bajkowski
Small-cap returns have been greater than that of large caps over the long term, but there are often streaks of outperformance followed by underperformance.
Model Shadow Stock Portfolio Review Brings Changes to Rules and Holdings
April 2022 by John Bajkowski
The first-quarter review resulted in changes to the price-to-book and market-cap maximums. Plus, four holdings met the sell rules, making way for three new additions.
April 2022 by John Bajkowski
The first-quarter review resulted in changes to the price-to-book and market-cap maximums. Plus, four holdings met the sell rules, making way for three new additions.
Year-by-Year Returns Better Illustrate Shadow Stock Portfolio's Variability
January 2022 by John Bajkowski
Examining year-by-year results gives a better picture of volatility and performance over the long term than any one month’s advance or decline.
January 2022 by John Bajkowski
Examining year-by-year results gives a better picture of volatility and performance over the long term than any one month’s advance or decline.
Model Shadow Stock Portfolio Reflects Small-Cap Value Dominance
October 2021 by John Bajkowski
For 2021 through August, small-cap value stocks are trouncing small-cap growth stocks, benefiting the Model Shadow Stock Portfolio.
October 2021 by John Bajkowski
For 2021 through August, small-cap value stocks are trouncing small-cap growth stocks, benefiting the Model Shadow Stock Portfolio.
The Pandemic Effect on Shadow Stocks: Strong Year-Over-Year Growth
September 2021 by John Bajkowski
Gains in revenues and earnings per share are dramatic when comparing 2021’s second quarter to that of 2020.
September 2021 by John Bajkowski
Gains in revenues and earnings per share are dramatic when comparing 2021’s second quarter to that of 2020.
Rule Changes and a New Stock for the Model Shadow Stock Portfolio
July 2021 by John Bajkowski
The cutoffs for the cheapest and smallest decile stocks have increased, prompting changes to the portfolio’s purchase and sell criteria.
July 2021 by John Bajkowski
The cutoffs for the cheapest and smallest decile stocks have increased, prompting changes to the portfolio’s purchase and sell criteria.
Model Shadow Stock Portfolio Recovers Faster Than Market
May 2021 by John Bajkowski
Strong recent performance lifted the portfolio out of its bear market run that stretched for two and one-third years.
May 2021 by John Bajkowski
Strong recent performance lifted the portfolio out of its bear market run that stretched for two and one-third years.
Shadow Stocks Continue Strong Run, Plus Changes to the Portfolio
April 2021 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio, two stocks were removed and two new stocks were added.
April 2021 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio, two stocks were removed and two new stocks were added.
Shadow Stock Portfolio Outperforms Over the Long Term
March 2021 by John Bajkowski
The effect of the large variability in short-term stock market returns is diminished with longer holding periods.
March 2021 by John Bajkowski
The effect of the large variability in short-term stock market returns is diminished with longer holding periods.
Pandemic Effect Causes Revisions to Shadow Stock Rule and Holdings
January 2021 by John Bajkowski
The impact of the coronavirus pandemic has placed many of the Shadow Stock holdings on earnings probation and prompted removal of three stocks.
January 2021 by John Bajkowski
The impact of the coronavirus pandemic has placed many of the Shadow Stock holdings on earnings probation and prompted removal of three stocks.
Third-Quarter Review Triggers Changes to Model Shadow Stock Portfolio
October 2020 by John Bajkowski
Removing a Shadow Stock based on the earnings sell rule allows for the addition of two new stocks.
October 2020 by John Bajkowski
Removing a Shadow Stock based on the earnings sell rule allows for the addition of two new stocks.
The Model Shadow Stock Portfolio’s Turnover and Holding Periods
September 2020 by John Bajkowski
Turnover in the Model Shadow Stock Portfolio was highest during the challenging year of 2007 and may increase later this year.
September 2020 by John Bajkowski
Turnover in the Model Shadow Stock Portfolio was highest during the challenging year of 2007 and may increase later this year.
Model Shadow Stock Portfolio Chooses From Small Pool of Qualifying Stocks
July 2020 by John Bajkowski
A rising stock market combined with more companies reporting negative quarterly and trailing 12-month earnings during the latest earnings reporting cycle resulted in a dramatic decline in qualifying companies.
July 2020 by John Bajkowski
A rising stock market combined with more companies reporting negative quarterly and trailing 12-month earnings during the latest earnings reporting cycle resulted in a dramatic decline in qualifying companies.
Price-to-Book Valuations Currently Favor Shadow Stocks
May 2020 by John Bajkowski
An enlightening look at the price-to-book relationship between large- and small-company stocks over time.
May 2020 by John Bajkowski
An enlightening look at the price-to-book relationship between large- and small-company stocks over time.
A Look at the Drawdowns and Rewards for Shadow Stocks
April 2020 by Wayne A. Thorp, John Bajkowski
The Model Shadow Stock Portfolio has more frequent bear cycles than the S&P 500, but the down periods have generally been shorter in duration and the bull reversals stronger.
April 2020 by Wayne A. Thorp, John Bajkowski
The Model Shadow Stock Portfolio has more frequent bear cycles than the S&P 500, but the down periods have generally been shorter in duration and the bull reversals stronger.
Monthly Return Patterns for the Shadow Stock Portfolio
January 2020 by John Bajkowski
A look at the strongest and weakest months for the Model Shadow Stock Portfolio over its 27-year history.
January 2020 by John Bajkowski
A look at the strongest and weakest months for the Model Shadow Stock Portfolio over its 27-year history.
Risk-Off Environment Leads to More Shadow Stock Candidates
October 2019 by John Bajkowski
After conducting the quarterly review, two stocks were removed from the portfolio, freeing up funds for the purchase of three new holdings.
October 2019 by John Bajkowski
After conducting the quarterly review, two stocks were removed from the portfolio, freeing up funds for the purchase of three new holdings.
May’s Volatility Leads to More Choices for Shadow Stock Portfolio
July 2019 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio in early June, two stocks were removed from the portfolio and one new stock was purchased.
July 2019 by John Bajkowski
After conducting the quarterly review of the Model Shadow Stock Portfolio in early June, two stocks were removed from the portfolio and one new stock was purchased.
Looking Back on the Pattern of Shadow Stock Sells
May 2019 by Wayne A. Thorp, John Bajkowski
The portfolio management rules have been constructed to encourage winning stocks to accumulate, while weaker companies are sold.
May 2019 by Wayne A. Thorp, John Bajkowski
The portfolio management rules have been constructed to encourage winning stocks to accumulate, while weaker companies are sold.
The Impact of Winter’s Volatility on the Shadow Stock’s Rules
April 2019 by John Bajkowski
Volatile market conditions in December and January caused fluctuations in the market-cap breakpoint used to identify Shadow Stocks, but not enough to warrant altering it. Plus, two stocks were sold from the portfolio.
April 2019 by John Bajkowski
Volatile market conditions in December and January caused fluctuations in the market-cap breakpoint used to identify Shadow Stocks, but not enough to warrant altering it. Plus, two stocks were sold from the portfolio.
The Model Shadow Stock Portfolio’s Drawdowns and Rewards
January 2019 by Wayne A. Thorp, John Bajkowski
While the portfolio has had more frequent corrections and bear market cycles than the S&P 500, its down periods have generally been shorter in duration and its bull market reversals stronger.
January 2019 by Wayne A. Thorp, John Bajkowski
While the portfolio has had more frequent corrections and bear market cycles than the S&P 500, its down periods have generally been shorter in duration and its bull market reversals stronger.
Model Shadow Stock Portfolio: Why Quarterly Reviews Still Make Sense
October 2018 by John Bajkowski
The higher costs associated with the purchase and sale of less actively traded stocks make it more profitable to transact less frequently.
October 2018 by John Bajkowski
The higher costs associated with the purchase and sale of less actively traded stocks make it more profitable to transact less frequently.
Examining the Shadow Stock Value and Size Factors
September 2018 by John Bajkowski
Our model portfolio is one of the oldest real-money examples of how the value and size premiums can be combined into a single strategy.
September 2018 by John Bajkowski
Our model portfolio is one of the oldest real-money examples of how the value and size premiums can be combined into a single strategy.
The Model Shadow Stock Portfolio’s Origins and Newest Stock
July 2018 by Wayne A. Thorp, John Bajkowski
The Shadow Stock strategy was designed to identify small, neglected and underpriced stocks. Its rules have evolved as research has highlighted additional promising techniques.
July 2018 by Wayne A. Thorp, John Bajkowski
The Shadow Stock strategy was designed to identify small, neglected and underpriced stocks. Its rules have evolved as research has highlighted additional promising techniques.
Model Shadow Stock Portfolio: Staying Invested All 12 Months
May 2018 by John Bajkowski
Staying invested in all 12 months of the year is important since missing the best single month dramatically lowers returns.
May 2018 by John Bajkowski
Staying invested in all 12 months of the year is important since missing the best single month dramatically lowers returns.
Model Shadow Stock Portfolio: Insights and a New Stock
April 2018 by Wayne A. Thorp, John Bajkowski
To realize the higher long-term returns of small-cap value stocks, some periods of short-term underperformance have to be endured.
April 2018 by Wayne A. Thorp, John Bajkowski
To realize the higher long-term returns of small-cap value stocks, some periods of short-term underperformance have to be endured.
Model Shadow Stock Portfolio: Implementing the New Four-Year Sell Rule
January 2018 by James B. Cloonan
A new time limit on portfolio holdings triggered the removal of four stocks that no longer qualify and have lackluster long-term returns.
January 2018 by James B. Cloonan
A new time limit on portfolio holdings triggered the removal of four stocks that no longer qualify and have lackluster long-term returns.
Discontinuing the Model Fund Portfolio, but Keeping the Level3 Passive Portfolio
November 2017 by James B. Cloonan
The Model Fund Portfolio is ending after 14 years. Updates to the Level3 Passive Portfolio will be included with the Model Shadow Stock Portfolio commentary.
November 2017 by James B. Cloonan
The Model Fund Portfolio is ending after 14 years. Updates to the Level3 Passive Portfolio will be included with the Model Shadow Stock Portfolio commentary.
Model Shadow Stock Portfolio: Special Update and Rule Changes
November 2017 by James B. Cloonan
The momentum and holding period rules are being updated. Plus, starting in 2018, commentary will be provided six times a year.
November 2017 by James B. Cloonan
The momentum and holding period rules are being updated. Plus, starting in 2018, commentary will be provided six times a year.
Model Shadow Stock Portfolio: Three New Stocks Added
October 2017 by James B. Cloonan
The gains from the latest portfolio deletion were large enough to facilitate adding three new Shadow Stocks.
October 2017 by James B. Cloonan
The gains from the latest portfolio deletion were large enough to facilitate adding three new Shadow Stocks.
Model Fund Portfolio: Two ETFs Replaced With Lower-Cost Equivalents
August 2017 by James B. Cloonan
The new mid-cap and small-cap ETFs have both lower expense ratios and lower trading costs than the funds they are replacing.
August 2017 by James B. Cloonan
The new mid-cap and small-cap ETFs have both lower expense ratios and lower trading costs than the funds they are replacing.
Model Shadow Stock Portfolio: Loosened Buy Rules on New Addition
July 2017 by James B. Cloonan
Due to a shortage of qualifying stocks, a slightly higher price-to-book ratio can be used for purchasing the portfolio’s newest stock.
July 2017 by James B. Cloonan
Due to a shortage of qualifying stocks, a slightly higher price-to-book ratio can be used for purchasing the portfolio’s newest stock.
Model Fund Portfolio: Don’t Fear Real Estate or the Stock Market
May 2017 by James B. Cloonan
Real estate can have its own short-term cycles, making it a good diversifier. Plus, it can be riskier to stay out of the stock market than to stay in it.
May 2017 by James B. Cloonan
Real estate can have its own short-term cycles, making it a good diversifier. Plus, it can be riskier to stay out of the stock market than to stay in it.
Model Shadow Stock Portfolio: Handling Major Financial Statement Revisions
April 2017 by James B. Cloonan
Major revisions to financial statements have been rare among Shadow Stocks; their mere occurrence is not reason alone for a stock’s removal.
April 2017 by James B. Cloonan
Major revisions to financial statements have been rare among Shadow Stocks; their mere occurrence is not reason alone for a stock’s removal.
A More Aggressive Approach for the Model Fund Portfolio
March 2017 by James B. Cloonan
Two funds have been replaced to help the Model Fund Portfolio take advantage of intermediate-term market trends.
March 2017 by James B. Cloonan
Two funds have been replaced to help the Model Fund Portfolio take advantage of intermediate-term market trends.
Model Shadow Stock Portfolio: New Additions, Plus Value Leads
January 2017 by James B. Cloonan
Two new stocks were added. Plus, a shift in favoritism back toward micro-cap and value stocks helped to propel the portfolio to a new all-time high.
January 2017 by James B. Cloonan
Two new stocks were added. Plus, a shift in favoritism back toward micro-cap and value stocks helped to propel the portfolio to a new all-time high.
Model Fund Portfolios: Answers to Questions About the Level3 Approach
November 2016 by James B. Cloonan
Find out why foreign and small-cap stocks are excluded and how the new approach fits into an individual investor’s portfolio.
November 2016 by James B. Cloonan
Find out why foreign and small-cap stocks are excluded and how the new approach fits into an individual investor’s portfolio.
New Rules for Model Shadow Stock Portfolio, Including Momentum
October 2016 by James B. Cloonan
The portfolio rules governing market capitalization and industry classification were modified, and a new momentum requirement was added. Plus, three new stocks were added to the portfolio.
October 2016 by James B. Cloonan
The portfolio rules governing market capitalization and industry classification were modified, and a new momentum requirement was added. Plus, three new stocks were added to the portfolio.
Model Fund Portfolio: Introducing the Level3 Passive Portfolio
August 2016 by James B. Cloonan
The new Level3 Passive Portfolio is an ETF portfolio comprising funds that should have returns higher than the S&P 500 over the long run.
August 2016 by James B. Cloonan
The new Level3 Passive Portfolio is an ETF portfolio comprising funds that should have returns higher than the S&P 500 over the long run.
Model Shadow Stock Portfolio: The Limitations of a Real Portfolio
July 2016 by James B. Cloonan
A key difference between strategies and real portfolios is not being able to buy all passing stocks due to limited investment dollars.
July 2016 by James B. Cloonan
A key difference between strategies and real portfolios is not being able to buy all passing stocks due to limited investment dollars.
Model Fund Portfolio Holding Opens to New Investors
May 2016 by James B. Cloonan
Aston/Fairpointe Mid Cap reopened to new investors. Plus, see the special note about upcoming changes to the All-ETF Portfolio.
May 2016 by James B. Cloonan
Aston/Fairpointe Mid Cap reopened to new investors. Plus, see the special note about upcoming changes to the All-ETF Portfolio.
Model Shadow Stock Portfolio: Many Opportunities Among Micro Caps
April 2016 by James B. Cloonan
The price decline in micro caps made valuations more attractive. Plus, one shadow stock was deleted due to a lack of profitability.
April 2016 by James B. Cloonan
The price decline in micro caps made valuations more attractive. Plus, one shadow stock was deleted due to a lack of profitability.
Model Fund Portfolio: REITs Show Their Long-Term Value
March 2016 by James B. Cloonan
During the portfolio’s past 12 years, long-term equity REITs have provided excellent diversification without sacrificing return.
March 2016 by James B. Cloonan
During the portfolio’s past 12 years, long-term equity REITs have provided excellent diversification without sacrificing return.
Revised Guidance on Following the Model Shadow Stock Portfolio
January 2016 by James B. Cloonan
Restrict purchases to Shadow Stocks whose average daily dollar volume is at least 10 times the desired amount to be invested. Plus, see the new additions.
January 2016 by James B. Cloonan
Restrict purchases to Shadow Stocks whose average daily dollar volume is at least 10 times the desired amount to be invested. Plus, see the new additions.
Model Fund Portfolio: Missing the Pre-Election Bull
November 2015 by James B. Cloonan
The pre-election-year bull is nowhere to be seen, but none of the portfolio’s funds are violating the sell rules.
November 2015 by James B. Cloonan
The pre-election-year bull is nowhere to be seen, but none of the portfolio’s funds are violating the sell rules.
The Model Shadow Stock Portfolio’s Long-Term Performance
October 2015 by James B. Cloonan
The power of compounded returns has led to the portfolio’s great long-term return. A new chart helps to show the relative impact on returns.
October 2015 by James B. Cloonan
The power of compounded returns has led to the portfolio’s great long-term return. A new chart helps to show the relative impact on returns.
Model Fund Portfolio: Diversification Offsets Weak Performers
August 2015 by James B. Cloonan
A big gain in First Trust US IPO (FPX) helped to offset the drag caused REITs and frontier markets being out-of-favor.
August 2015 by James B. Cloonan
A big gain in First Trust US IPO (FPX) helped to offset the drag caused REITs and frontier markets being out-of-favor.
Major Rule Change Made to the
Model Shadow Stock Portfolio
July 2015 by James B. Cloonan
The maximum price-to-book ratio has been increased. Plus, three stocks were added and a fourth reinvested into.
July 2015 by James B. Cloonan
The maximum price-to-book ratio has been increased. Plus, three stocks were added and a fourth reinvested into.
No Reason to Switch Funds in the Model Fund Portfolio
May 2015 by James B. Cloonan
Aston/Fairpointe continues to have one of the highest long-term returns, while none of the competitors to our funds or ETFs justify making a change.
May 2015 by James B. Cloonan
Aston/Fairpointe continues to have one of the highest long-term returns, while none of the competitors to our funds or ETFs justify making a change.
Model Shadow Stock Portfolio: Sell Rules Dictate a Change
April 2015 by James B. Cloonan
One stock was replaced after blowing through both the value and market-capitalization limits. Plus, insight into the portfolio’s performance.
April 2015 by James B. Cloonan
One stock was replaced after blowing through both the value and market-capitalization limits. Plus, insight into the portfolio’s performance.
Dramatic Changes Help and Hurt the Model Fund Portfolio
March 2015 by James B. Cloonan
Upward volatility in REITs has been offset by oil-related declines in frontier markets. Both asset classes still look attractive on a long-term basis.
March 2015 by James B. Cloonan
Upward volatility in REITs has been offset by oil-related declines in frontier markets. Both asset classes still look attractive on a long-term basis.
Two New Stocks Added to the Model Shadow Stock Portfolio
January 2015 by James B. Cloonan
The latest additions are discussed, along with the portfolio’s 2014 performance and expectations for 2015.
January 2015 by James B. Cloonan
The latest additions are discussed, along with the portfolio’s 2014 performance and expectations for 2015.
Replacing a Mutual Fund With an ETF in the Model Fund Portfolio
November 2014 by James B. Cloonan
One mutual fund has been removed because of its expense and performance and is being replaced with an IPO-focused ETF.
November 2014 by James B. Cloonan
One mutual fund has been removed because of its expense and performance and is being replaced with an IPO-focused ETF.
Maintaining Model Shadow Stock Portfolio Purchase Rules
October 2014 by James B. Cloonan
Though no new non-Chinese stocks are qualifying, there is not enough cash in the portfolio to justify looser purchase rules.
October 2014 by James B. Cloonan
Though no new non-Chinese stocks are qualifying, there is not enough cash in the portfolio to justify looser purchase rules.
Model Fund Portfolio: Adjust Risk Based on Personal Factors
August 2014 by James B. Cloonan
Performance figures for the Conservative Portfolio are being dropped because the proper risk exposure is unique to each investor.
August 2014 by James B. Cloonan
Performance figures for the Conservative Portfolio are being dropped because the proper risk exposure is unique to each investor.
A New Constraint Added to the Model Shadow Stock Portfolio Rules
July 2014 by James B. Cloonan
A rule eliminating candidates with negative earnings estimates has been formalized. Plus, see the latest transactions.
July 2014 by James B. Cloonan
A rule eliminating candidates with negative earnings estimates has been formalized. Plus, see the latest transactions.
REITs and Frontier Markets Drive Model Fund Portfolio Higher
May 2014 by James B. Cloonan
Good first-quarter returns by the REIT and frontier markets funds helped the Model Fund Portfolio beat the S&P 500 on a year-to-date basis.
May 2014 by James B. Cloonan
Good first-quarter returns by the REIT and frontier markets funds helped the Model Fund Portfolio beat the S&P 500 on a year-to-date basis.
Model Shadow Stock Portfolio Rules Amended and Clarified
April 2014 by James B. Cloonan
The valuation and market capitalization sell rules have been amended. Plus, the maximum price to pay for new stocks is now listed.
April 2014 by James B. Cloonan
The valuation and market capitalization sell rules have been amended. Plus, the maximum price to pay for new stocks is now listed.
Model Fund Portfolio: Replacing a Closed Fund
March 2014 by James B. Cloonan
Fidelity OTC (FOCPX) is being added to replace Yacktman Focused (YAFFX). Plus, Jim’s thoughts about closed mutual funds.
March 2014 by James B. Cloonan
Fidelity OTC (FOCPX) is being added to replace Yacktman Focused (YAFFX). Plus, Jim’s thoughts about closed mutual funds.
Model Shadow Stock Portfolio: Purchase Guidelines and Rule Changes
January 2014 by James B. Cloonan
Guidelines regarding price action and news are discussed, as well as a higher market capitalization limit and the latest portfolio changes.
January 2014 by James B. Cloonan
Guidelines regarding price action and news are discussed, as well as a higher market capitalization limit and the latest portfolio changes.
Building an All-ETF Subset From the Model Fund Portfolio
November 2013 by James B. Cloonan
The Pure ETF Portfolio is an example of how a diversified portfolio can be constructed solely out of ETFs.
November 2013 by James B. Cloonan
The Pure ETF Portfolio is an example of how a diversified portfolio can be constructed solely out of ETFs.
The Model Shadow Stock Portfolio and Micro-Cap Stock Spreads
October 2013 by James B. Cloonan
Guidance for reducing the negative impact of spreads. Plus, one stock was sold and two were added to the portfolio.
October 2013 by James B. Cloonan
Guidance for reducing the negative impact of spreads. Plus, one stock was sold and two were added to the portfolio.
Frontier Markets Exposure Added to the Model Fund Portfolio
August 2013 by James B. Cloonan
The portfolio’s new addition targets pre-emerging economies and offers more potential upside than the fund it is replacing.
August 2013 by James B. Cloonan
The portfolio’s new addition targets pre-emerging economies and offers more potential upside than the fund it is replacing.
Three Different Ways to Follow the Model Shadow Stock Portfolio
July 2013 by James B. Cloonan
The portfolio’s rules allow for variance in how it is followed. Plus, one new stock was added.
July 2013 by James B. Cloonan
The portfolio’s rules allow for variance in how it is followed. Plus, one new stock was added.
A New Fund and Suggested Allocation for the Model Fund Portfolio
May 2013 by James B. Cloonan
CGM Realty Fund (CGMRX) is being replaced, and a new allocation is suggested for those preferring a more conservative portfolio.
May 2013 by James B. Cloonan
CGM Realty Fund (CGMRX) is being replaced, and a new allocation is suggested for those preferring a more conservative portfolio.
A Look at the Model Shadow Stock Portfolio’s True Risk
April 2013 by James B. Cloonan
Measured by the chance of a long-term loss, the Model Shadow Stock Portfolio is less risky than the S&P 500 index.
April 2013 by James B. Cloonan
Measured by the chance of a long-term loss, the Model Shadow Stock Portfolio is less risky than the S&P 500 index.
Equal-Weighted ETF Helps Boost Model Fund Portfolio Return
March 2013 by James B. Cloonan
The inclusion of an equal-weighted S&P 500 ETF helped the Model Fund Portfolio avoid the volatility experienced by its market-cap-weighted peers.
March 2013 by James B. Cloonan
The inclusion of an equal-weighted S&P 500 ETF helped the Model Fund Portfolio avoid the volatility experienced by its market-cap-weighted peers.
Higher Prices Prompt Rule Change in the Model Shadow
Stock Portfolio
January 2013 by James B. Cloonan
The minimum and maximum market capitalizations have been revised upward to account for higher micro-cap stock prices.
January 2013 by James B. Cloonan
The minimum and maximum market capitalizations have been revised upward to account for higher micro-cap stock prices.
Revised Model Fund Portfolio: Benchmark Impacted by Cap Weighting
November 2012 by James B. Cloonan
Equal-weighted funds have historically outperformed their capitalization-weighted peers, but strong performance in two tech stocks reversed the trend this year.
November 2012 by James B. Cloonan
Equal-weighted funds have historically outperformed their capitalization-weighted peers, but strong performance in two tech stocks reversed the trend this year.
Adherence to Rules Helps Model Shadow Stock Portfolio's Performance
October 2012 by James B. Cloonan
Following a consistent, well-defined approach has helped the portfolio achieve an average return of 16.1% over the past 20 years. Plus, see the latest buys and sells.
October 2012 by James B. Cloonan
Following a consistent, well-defined approach has helped the portfolio achieve an average return of 16.1% over the past 20 years. Plus, see the latest buys and sells.
Revised Model Fund Portfolio: Combining Mutual Funds and ETFs
August 2012 by James B. Cloonan
The Model Fund Portfolio has been revised to take advantage of the unique strengths that mutual funds and exchange-traded funds (ETFs) offer.
August 2012 by James B. Cloonan
The Model Fund Portfolio has been revised to take advantage of the unique strengths that mutual funds and exchange-traded funds (ETFs) offer.
Despite Uncertainty, Model Shadow Stock Portfolio Still Positive for 2012
July 2012 by James B. Cloonan
Global and domestic uncertainty hurt returns in May, but even with the pullback, the portfolio is up 9.1% year-to-date.
July 2012 by James B. Cloonan
Global and domestic uncertainty hurt returns in May, but even with the pullback, the portfolio is up 9.1% year-to-date.
Model Mutual Fund and ETF Portfolios: Choosing a Benchmark Isn't Easy
May 2012 by James B. Cloonan
A benchmark should follow the same approach as the portfolio being measured, but the most popular benchmarks measure average portfolio performance.
May 2012 by James B. Cloonan
A benchmark should follow the same approach as the portfolio being measured, but the most popular benchmarks measure average portfolio performance.
Model Shadow Stock Portfolio Reaches an All-Time High
April 2012 by James B. Cloonan
A rally in micro-cap stocks helped drive the portfolio’s cumulative return to an all-time high. Plus, read about the portfolio’s latest changes.
April 2012 by James B. Cloonan
A rally in micro-cap stocks helped drive the portfolio’s cumulative return to an all-time high. Plus, read about the portfolio’s latest changes.
Model Mutual Fund and ETF Portfolios: Value and Small Stocks
Impact Returns
March 2012 by James B. Cloonan
Value stocks and small-cap stocks have superior long-term performance but hurt the portfolios’ returns last year.
March 2012 by James B. Cloonan
Value stocks and small-cap stocks have superior long-term performance but hurt the portfolios’ returns last year.
Model Shadow Stock Portfolio: Up Modestly During an Atypical Year
January 2012 by James B. Cloonan
Though the market did not enjoy its typical pre-election-year rally, the Model Shadow Stock Portfolio ended November with a year-to-date gain.
January 2012 by James B. Cloonan
Though the market did not enjoy its typical pre-election-year rally, the Model Shadow Stock Portfolio ended November with a year-to-date gain.
Model Mutual Fund and ETF Portfolios: Waiting for Value and
Small-Cap to Improve
November 2011 by James B. Cloonan
Growth and large-cap stocks have recently outperformed value and small-cap stocks, hurting the relative performance of our model portfolios.
November 2011 by James B. Cloonan
Growth and large-cap stocks have recently outperformed value and small-cap stocks, hurting the relative performance of our model portfolios.
Record Market Volatility Affects Model Shadow Stock Portfolio
October 2011 by James B. Cloonan
High levels of volatility caused the portfolio to show a year-to-date loss at the end of August. Read about the latest changes and see James’ latest commentary.
October 2011 by James B. Cloonan
High levels of volatility caused the portfolio to show a year-to-date loss at the end of August. Read about the latest changes and see James’ latest commentary.
Model Mutual Fund and ETF Portfolios: Combined Update, Different Strategies
August 2011 by James B. Cloonan
Both model portfolios are covered in a combined update. Learn how the two strategies differ, and see the new additions to the Model Mutual Fund Portfolio.
August 2011 by James B. Cloonan
Both model portfolios are covered in a combined update. Learn how the two strategies differ, and see the new additions to the Model Mutual Fund Portfolio.
Shadow Stock Gains Limited by Pause in Small-Cap Stocks
July 2011 by James B. Cloonan
The Model Shadow Stock Portfolio rose 2% since the last update. Two holdings were replaced with new stocks.
July 2011 by James B. Cloonan
The Model Shadow Stock Portfolio rose 2% since the last update. Two holdings were replaced with new stocks.
Model ETF Portfolio Versus Benchmark: More Diversification,
Similar Returns
May 2011 by James B. Cloonan
Real estate has been volatile, but it has added to the Model ETF Portfolio’s diversification without adversely affecting long-term performance.
May 2011 by James B. Cloonan
Real estate has been volatile, but it has added to the Model ETF Portfolio’s diversification without adversely affecting long-term performance.
Shadow Stock Portfolio Rewards Investors Who Stayed in Stocks
April 2011 by James B. Cloonan
The Model Shadow Stock Portfolio ended February above its pre–bear market high. Plus, see which two stocks were added to the portfolio.
April 2011 by James B. Cloonan
The Model Shadow Stock Portfolio ended February above its pre–bear market high. Plus, see which two stocks were added to the portfolio.
Model Mutual Fund Portfolio: Revisiting Fund Selection Rules
March 2011 by James B. Cloonan
Revisiting Fund Selection Rules: Increased market volatility may require tweaking one of the fund selection rules used for this portfolio
March 2011 by James B. Cloonan
Revisiting Fund Selection Rules: Increased market volatility may require tweaking one of the fund selection rules used for this portfolio
Shadow Stock Portfolio Makes the Case for Buy and Hold
January 2011 by James B. Cloonan
The fourth-quarter rally helped to push the Shadow Stock Portfolio back up close to its pre-recession high. Plus, see the portfolio’s new additions.
January 2011 by James B. Cloonan
The fourth-quarter rally helped to push the Shadow Stock Portfolio back up close to its pre-recession high. Plus, see the portfolio’s new additions.
New Fund Added to the
Model ETF Portfolio
November 2010 by James B. Cloonan
An exchange-traded fund that invests in master limited partnerships (MLPs) has been added. Find out what the ETF is and suggestions for allocating your portfolio.
November 2010 by James B. Cloonan
An exchange-traded fund that invests in master limited partnerships (MLPs) has been added. Find out what the ETF is and suggestions for allocating your portfolio.
Shadow Stock Portfolio Performance Reflects Market’s Volatility
October 2010 by James B. Cloonan
The Model Shadow Stock Portfolio pared some of its gains over the summer, but still remained in positive territory year-to-date. Plus, a change was made to one of the portfolio’s sell rules.
October 2010 by James B. Cloonan
The Model Shadow Stock Portfolio pared some of its gains over the summer, but still remained in positive territory year-to-date. Plus, a change was made to one of the portfolio’s sell rules.
Bear Market Bites Model Fund Portfolio and Stock-Based
Mutual Funds
August 2010 by James B. Cloonan
Weakness in May and June hurt the model fund portfolio’s return. Virtually all stock-based mutual funds now have negative three-year returns.
August 2010 by James B. Cloonan
Weakness in May and June hurt the model fund portfolio’s return. Virtually all stock-based mutual funds now have negative three-year returns.
Shadow Stock Portfolio Up 14.9% in 2010
July 2010 by James B. Cloonan
The Shadow Stock Portfolio is posting good returns despite the market’s volatility. Plus, find out why changes were made to the portfolio’s holdings.
July 2010 by James B. Cloonan
The Shadow Stock Portfolio is posting good returns despite the market’s volatility. Plus, find out why changes were made to the portfolio’s holdings.
Model ETF Portfolio: Real Estate Holdings Boost Performance
May 2010 by James B. Cloonan
The inclusion of a real estate component is helping the Model ETF Portfolio easily outperform its benchmark.
May 2010 by James B. Cloonan
The inclusion of a real estate component is helping the Model ETF Portfolio easily outperform its benchmark.
Shadow Stock Portfolio: About Even Despite High Volatility
April 2010 by James B. Cloonan
As of the end of February, the portfolio is about even year-to-date, but there has been high volatility with a weak January and a strong February.
April 2010 by James B. Cloonan
As of the end of February, the portfolio is about even year-to-date, but there has been high volatility with a weak January and a strong February.
Keeping Fund Portfolio Unchanged Despite Tough Start to 2010
March 2010 by James B. Cloonan
Though the January Indicator suggests the possibility of a down year, there is no reason to alter normal investment allocations.
March 2010 by James B. Cloonan
Though the January Indicator suggests the possibility of a down year, there is no reason to alter normal investment allocations.
Model Shadow Stock Portfolio Contests 2007 for Best Annual Return
January 2010 by James B. Cloonan
The markets and the Shadow Stock Portfolio staged big rebounds, but both remain below their 2007 highs. The New Year brings both potential reward and risks.
January 2010 by James B. Cloonan
The markets and the Shadow Stock Portfolio staged big rebounds, but both remain below their 2007 highs. The New Year brings both potential reward and risks.
Model ETF Portfolio: Beats Benchmark, But Total Recovery Not Yet Complete
November 2009 by James B. Cloonan
The AAII Model ETF Portfolio is benefiting handsomely from the positive movement in the stock market this year, with a year-to-date return of 38.2%, compared to a return of 22.7% for its ETF benchmark.
November 2009 by James B. Cloonan
The AAII Model ETF Portfolio is benefiting handsomely from the positive movement in the stock market this year, with a year-to-date return of 38.2%, compared to a return of 22.7% for its ETF benchmark.
Model Shadow Stock Portfolio Up 66%, as Market Move Mystifies Pundits
October 2009 by James B. Cloonan
The Model Shadow Stock Portfolio is on its way to one of its best years ever--up 66.6% through the end of August compared to 15% for the S&P 500. But the portfolio still has not recouped all of its 2008 losses. A good contrarian indicator: many analysts say the market can't possibly go higher.
October 2009 by James B. Cloonan
The Model Shadow Stock Portfolio is on its way to one of its best years ever--up 66.6% through the end of August compared to 15% for the S&P 500. But the portfolio still has not recouped all of its 2008 losses. A good contrarian indicator: many analysts say the market can't possibly go higher.
After the Storm, Stability Returns to the Model Mutual Fund Portfolio
August 2009 by James B. Cloonan
The Model Mutual Fund Portfolio and the general market are up a bit year to date, and after 2008, anything positive is good. While the fund portfolio is behind the overall market year to date, it has outperformed the Vanguard Total Market benchmark over the last five years.
August 2009 by James B. Cloonan
The Model Mutual Fund Portfolio and the general market are up a bit year to date, and after 2008, anything positive is good. While the fund portfolio is behind the overall market year to date, it has outperformed the Vanguard Total Market benchmark over the last five years.
Rebound: Model Shadow Stock Portfolio Strongly Up, But Still Playing Catch-Up
July 2009 by James B. Cloonan
The good news: The Model Shadow Stock Portfolio is up 30.1% year-to-date, and way ahead of the S&P 500. But bear market math is brutal: When you are down 50%, you have to go back up 100% just to get even, and for that, we still have quite a ways to go.
July 2009 by James B. Cloonan
The good news: The Model Shadow Stock Portfolio is up 30.1% year-to-date, and way ahead of the S&P 500. But bear market math is brutal: When you are down 50%, you have to go back up 100% just to get even, and for that, we still have quite a ways to go.
Real Estate Holding Distinguishes ETF Model Portfolio From Benchmark
May 2009 by James B. Cloonan
AAII's Model ETF Portfolio is underperforming its benchmark due largely to the same holding that allowed it to beat the benchmark over other time periods--the holding in iShares Cohen & Steers Realty Majors Fund.
May 2009 by James B. Cloonan
AAII's Model ETF Portfolio is underperforming its benchmark due largely to the same holding that allowed it to beat the benchmark over other time periods--the holding in iShares Cohen & Steers Realty Majors Fund.
Model Stock Portfolio: Beating the Benchmark Is Nice, But a Loss Isn't
April 2009 by James B. Cloonan
There has been little reprieve from the downward forces on the stock market, and while the Model Portfolio has outperformed the benchmarks year-to-date, you can't pay bills with a loss.
April 2009 by James B. Cloonan
There has been little reprieve from the downward forces on the stock market, and while the Model Portfolio has outperformed the benchmarks year-to-date, you can't pay bills with a loss.
Good-Bye and Good Riddance: 2008 Enters Stock Market History
February 2009 by James B. Cloonan
A performance review of the AAII Model Mutual Fund Portfolio shows the portfolio down 36.5%, as compared to -37.0% for the benchmark Vanguard Total Stock Market Index fund (VTSMX).
February 2009 by James B. Cloonan
A performance review of the AAII Model Mutual Fund Portfolio shows the portfolio down 36.5%, as compared to -37.0% for the benchmark Vanguard Total Stock Market Index fund (VTSMX).
Bear Market Punishes Shadow Stocks But Qualifying Stocks Abound
January 2009 by James B. Cloonan
The stock market is punishing every sector, and it is punishing its favorite children--micro-cap and extreme value stocks--the most. Year-to-date (through November 30, 2008) the Model Shadow Stock Portfolio is down 51.1%. On the other hand, this quarter, there were over 90 candidates that qualified on our basic criteria--easily a record.
January 2009 by James B. Cloonan
The stock market is punishing every sector, and it is punishing its favorite children--micro-cap and extreme value stocks--the most. Year-to-date (through November 30, 2008) the Model Shadow Stock Portfolio is down 51.1%. On the other hand, this quarter, there were over 90 candidates that qualified on our basic criteria--easily a record.
AAII Model ETF Portfolio Review and How to Take Advantage of ETFs
November 2008 by James B. Cloonan
A review of the Model ETF Portfolio, and ETF characteristics that are important to consider--particularly in comparison to traditional mutual funds.
November 2008 by James B. Cloonan
A review of the Model ETF Portfolio, and ETF characteristics that are important to consider--particularly in comparison to traditional mutual funds.
Results Not Yet Final, But So Far, Election-Year Returns Have Yet to Appear
October 2008 by James B. Cloonan
The Model Shadow Stock Portfolio has moved ahead of the S&P 500 year-to-date, but is still behind small-cap stocks, which are down "only" 3.8% year to date. Our quarterly review includes a list of changes to the portfolio over the last quarter, a complete listing of the holdings, and the rules that govern the portfolio.
October 2008 by James B. Cloonan
The Model Shadow Stock Portfolio has moved ahead of the S&P 500 year-to-date, but is still behind small-cap stocks, which are down "only" 3.8% year to date. Our quarterly review includes a list of changes to the portfolio over the last quarter, a complete listing of the holdings, and the rules that govern the portfolio.
Model Fund Portfolio Update and a Look at How Various Indexes Are Weighted
August 2008 by James B. Cloonan
The Model Mutual Fund Portfolio is down for the year to date at -3.8%, but performing well considering the weak election-year market. Also, a look at the various methods for weighting stocks in indexes - and which one is best.
August 2008 by James B. Cloonan
The Model Mutual Fund Portfolio is down for the year to date at -3.8%, but performing well considering the weak election-year market. Also, a look at the various methods for weighting stocks in indexes - and which one is best.
Shadow Stock Portfolio Update and the Disappointing Election-Year Market
July 2008 by James B. Cloonan
As of the end of May, micro-cap stocks continue to lag the market and the Model Shadow Stock Portfolio reflects that trend, with a weak three months. But even though the market appears gloomy, the bottom line is that it may be wise to stick with your long-term asset allocation or make only minimal adjustments.
July 2008 by James B. Cloonan
As of the end of May, micro-cap stocks continue to lag the market and the Model Shadow Stock Portfolio reflects that trend, with a weak three months. But even though the market appears gloomy, the bottom line is that it may be wise to stick with your long-term asset allocation or make only minimal adjustments.
ETFs Get Active: AAII's Model Portfolio and the Evolving Marketplace
May 2008 by James B. Cloonan
The AAII model portfolio of exchange-traded funds (ETFs) year-to-date is outperforming the market, but unfortunately "outperformance" only means going down less than the market. An update on the portfolio and its holdings.
May 2008 by James B. Cloonan
The AAII model portfolio of exchange-traded funds (ETFs) year-to-date is outperforming the market, but unfortunately "outperformance" only means going down less than the market. An update on the portfolio and its holdings.
Market Weakness Hits Model Shadow Stock Portfolio
April 2008 by James B. Cloonan
The market weakness continues, but it has stopped hitting small and value stocks more than the general market. The Model Shadow Stock Portfolio is now performing better than the overall market. An update on the portfolio and its holdings.
April 2008 by James B. Cloonan
The market weakness continues, but it has stopped hitting small and value stocks more than the general market. The Model Shadow Stock Portfolio is now performing better than the overall market. An update on the portfolio and its holdings.
Sub-Par Performance by Market in Pre-Election Year Drama
February 2008 by James B. Cloonan
The Model Mutual Fund Portfolio did considerably better than the S&P 500 last year, coming in at 10.2%, but with disparity within the portfolio. Its superior performance was due to one fund.
February 2008 by James B. Cloonan
The Model Mutual Fund Portfolio did considerably better than the S&P 500 last year, coming in at 10.2%, but with disparity within the portfolio. Its superior performance was due to one fund.
2007 Proves Underwhelming
for Small Caps and Value Stocks
January 2008 by James B. Cloonan
A year-end review of the AAII Model Shadow Stock Portfolio.
January 2008 by James B. Cloonan
A year-end review of the AAII Model Shadow Stock Portfolio.
Model ETF Portfolio: Stay the Course Despite Headwinds
November 2007 by James B. Cloonan
The Model ETF Portfolio is lagging its benchmark due to its purposeful bias toward REITs, small-cap stocks and value stocks.
November 2007 by James B. Cloonan
The Model ETF Portfolio is lagging its benchmark due to its purposeful bias toward REITs, small-cap stocks and value stocks.
Third Year of an Election Cycle: Volatility Returns to the Market
October 2007 by James B. Cloonan
This has not been a typical pre-election year--but there are still several months to go before year-end. Despite volatile returns, the Model Shadow Stock Portfolio is up 7.5% for the year, compared to 5.1% for the S&P 500. Our quarterly review.
October 2007 by James B. Cloonan
This has not been a typical pre-election year--but there are still several months to go before year-end. Despite volatile returns, the Model Shadow Stock Portfolio is up 7.5% for the year, compared to 5.1% for the S&P 500. Our quarterly review.
Model ETF Portfolio Adds Foreign Funds to the Mix
August 2007 by James B. Cloonan
A closer look at AAII's new experimental ETF portfolio, including which ETFs are in the portfolio, the selection rationale, and why foreign ETFs are being added.
August 2007 by James B. Cloonan
A closer look at AAII's new experimental ETF portfolio, including which ETFs are in the portfolio, the selection rationale, and why foreign ETFs are being added.
Mutual Fund Portfolio Tracks Market, Stumbles and All
August 2007 by James B. Cloonan
The Mutual Fund Portfolio is doing well year-to-date, up 9.7% compared to 7.5% for the total stock market. A portfolio review.
August 2007 by James B. Cloonan
The Mutual Fund Portfolio is doing well year-to-date, up 9.7% compared to 7.5% for the total stock market. A portfolio review.
A Choppy Ride Up for Market and Shadow Stock Portfolio
July 2007 by James B. Cloonan
The market creeps gradually upward, as does the AAII Model Shadow Stock Portfolio. If the market continues at its current pace for the balance of the year, we will have the normal "year before the election" return of around 23%. On the bearish side, inflation is still a concern; on the bullish side, there now are a number of bearish analysts.
July 2007 by James B. Cloonan
The market creeps gradually upward, as does the AAII Model Shadow Stock Portfolio. If the market continues at its current pace for the balance of the year, we will have the normal "year before the election" return of around 23%. On the bearish side, inflation is still a concern; on the bullish side, there now are a number of bearish analysts.
Model Shadow Stock Portfolio Survives Market Volatility
April 2007 by James B. Cloonan
The Shadow Stock Portfolio is doing better than the market in what is either a resumption of the long-term uptrend or a short-term respite from a lengthier downtrend. Although the market trend will soon be clear, for buy-and-holders it doesn't make much difference.
April 2007 by James B. Cloonan
The Shadow Stock Portfolio is doing better than the market in what is either a resumption of the long-term uptrend or a short-term respite from a lengthier downtrend. Although the market trend will soon be clear, for buy-and-holders it doesn't make much difference.
Model Fund Portfolio Update: A Bullish Ride Into 2007
February 2007 by James B. Cloonan
Our Model Mutual Fund Portfolio joined the general market in having strong final months in 2006, and continues to beat the market over the longer term. A review of the Model Fund Portfolio, and an update on our newest model portfolio that focuses on exchange-traded funds.
February 2007 by James B. Cloonan
Our Model Mutual Fund Portfolio joined the general market in having strong final months in 2006, and continues to beat the market over the longer term. A review of the Model Fund Portfolio, and an update on our newest model portfolio that focuses on exchange-traded funds.
Shadow Stock Portfolio: A Strong Year-End Finish
January 2007 by James B. Cloonan
The AAII Model Shadow Stock Portfolio had a remarkable year, up 25.0% year-to-date, compared to 14.0% for the market. We may be due for a weak year down the road, but that is best dealt with by building profits in the interim.
January 2007 by James B. Cloonan
The AAII Model Shadow Stock Portfolio had a remarkable year, up 25.0% year-to-date, compared to 14.0% for the market. We may be due for a weak year down the road, but that is best dealt with by building profits in the interim.
Shadow Stock Portfolio Up 8.5% Year-to-Date Despite Market Weakness
October 2006 by James B. Cloonan
The small capitalization and value criteria result in a portfolio that has provided significantly higher returns than the indexes.
October 2006 by James B. Cloonan
The small capitalization and value criteria result in a portfolio that has provided significantly higher returns than the indexes.
Model Fund Portfolio Update: No Complaints for 2005
February 2006 by James B. Cloonan
Last year was not a great year for the stock market, but when a poor year still has positive returns, we can't complain too much--especially if you can outperform the market at a lower level of risk.
February 2006 by James B. Cloonan
Last year was not a great year for the stock market, but when a poor year still has positive returns, we can't complain too much--especially if you can outperform the market at a lower level of risk.
Model Shadow Stock Portfolio: All-in-All, A Very Good Year
January 2006 by James B. Cloonan
The AAII Model Shadow Stock Portfolio took a bit of a breather in the last three months, but through November it remains at an impressive 18.8% compared to single-digit returns for the S&P 500 and small-cap index funds.
January 2006 by James B. Cloonan
The AAII Model Shadow Stock Portfolio took a bit of a breather in the last three months, but through November it remains at an impressive 18.8% compared to single-digit returns for the S&P 500 and small-cap index funds.
No Summer Doldrums for the Shadow Stock Portfolio
October 2005 by James B. Cloonan
The Model Shadow Stock Portfolio has found enough fuel to jet through the summer doldrums of 2005, rocketing to a 19.1% return over the quarter, while year to date it is up 17.8% compared to 5.4% for the Vanguard Small Cap Index fund. Our quarterly review includes a list of changes to the portfolio over the last quarter, as well as a complete listing of the holdings.
October 2005 by James B. Cloonan
The Model Shadow Stock Portfolio has found enough fuel to jet through the summer doldrums of 2005, rocketing to a 19.1% return over the quarter, while year to date it is up 17.8% compared to 5.4% for the Vanguard Small Cap Index fund. Our quarterly review includes a list of changes to the portfolio over the last quarter, as well as a complete listing of the holdings.
Model Fund Portfolio Update: 2005 Mid-Year Review
August 2005 by James B. Cloonan
The Model Mutual Fund Portfolio is slightly ahead of the S&P 500 for the first half of this year, but significantly ahead over the last 12 months. A mid-year look at the portfolio, how it has fared, and what changes have been made.
August 2005 by James B. Cloonan
The Model Mutual Fund Portfolio is slightly ahead of the S&P 500 for the first half of this year, but significantly ahead over the last 12 months. A mid-year look at the portfolio, how it has fared, and what changes have been made.
Shadow Stock Portfolio Still Leads as Market Runs Out of Gas
July 2005 by James B. Cloonan
While the Model Shadow Stock Portfolio is starting to run on fumes alone, it still leads the market. A mid-year look at the portfolio--how it has fared, and what changes have been made.
July 2005 by James B. Cloonan
While the Model Shadow Stock Portfolio is starting to run on fumes alone, it still leads the market. A mid-year look at the portfolio--how it has fared, and what changes have been made.
Why Well-Designed Portfolios Don't Depend on Cap Size and Style Categories
February 2004 by James B. Cloonan
A look at the Individual Investor's Mutual Fund Portfolio--how it performed and its investment characteristics.
February 2004 by James B. Cloonan
A look at the Individual Investor's Mutual Fund Portfolio--how it performed and its investment characteristics.
What's UP? AAII's Shadow Stock Portfolio
January 2004 by James B. Cloonan
A strong close to last year bodes well for 2004: A performance and composition update on the AAII Shadow Stock Portfolio.
January 2004 by James B. Cloonan
A strong close to last year bodes well for 2004: A performance and composition update on the AAII Shadow Stock Portfolio.
Focus on the Individual Investor's Shadow Stock Portfolio
November 2003 by James B. Cloonan
Presenting a model stock portfolio that can be the beginning of the selection process, but not all of it. There are many ways the strategy can be implemented without everyone buying the exact same stocks.
November 2003 by James B. Cloonan
Presenting a model stock portfolio that can be the beginning of the selection process, but not all of it. There are many ways the strategy can be implemented without everyone buying the exact same stocks.
Out of the Wall Street Spotlight: The 1998 Shadow Stocks
February 1998 by John Bajkowski
AAII´s annual listing of smaller-capitalization stocks that are out of the glare of research analysts and institutional investors.
February 1998 by John Bajkowski
AAII´s annual listing of smaller-capitalization stocks that are out of the glare of research analysts and institutional investors.
Out of the Wall Street Spotlight: The 1996 Shadow Stocks
February 1996 by John Bajkowski
AAII's annual listing of smaller-capitalization stocks that are out of the glare of research analysts and insititutional investors.
February 1996 by John Bajkowski
AAII's annual listing of smaller-capitalization stocks that are out of the glare of research analysts and insititutional investors.
Shadow Stock Rookies: Firms That Are New to the 1996 Listing
February 1996 by John Bajkowski
Our annual screen for Shadow stocks turned up 125 companies not included in last year's listing.
February 1996 by John Bajkowski
Our annual screen for Shadow stocks turned up 125 companies not included in last year's listing.