Of the big lake they call Gitche Gumee
The lake, it is said, never gives up her dead
When the skies of November turn gloomy."
I have a family home up on "The Lake" (Lake Superior). Gordon Lightfoot's lyrics should have been played for levered long US “Activist” Equity investors, where November did indeed "turn gloomy." That said, don’t let your broker or PM tell you “T’was the witch of November” who stole all performance. For the month, China and Gold closed +8.8% and +12.7%, respectively. Staying focused on your losers and averaging down on the homeland isn't going to differentiate returns in this increasingly interconnected global market of factors. Keep it global and keep moving!
We remain long both China and Gold via the FXI and GLD exchange traded funds. We are short the S&P500 via the SPY.