Gyroscopic Investing

Apologies if this is already being discussed in another thread, but: I'm not clear on what happened today? 3/4 of the PP portfolio is up.  Yet PRPFX is down?

Huh?

Long end of the yield curve went bananas.

PRPFX didn't get to participate because it doesn't have enough long bond exposure.

Coffee wrote: Apologies if this is already being discussed in another thread, but: I'm not clear on what happened today? 3/4 of the PP portfolio is up.  Yet PRPFX is down?

Huh?

PRPFX holds physical gold and the COMEX markets close at 10:30am. The fund has not captured the price increase in gold witnessed after the metals markets closed (about a $20/oz. (1640-1660) move between 10:30am and 1:00pm). GLD trades until 1:00pm, but funds that hold physical metals calculate daily NAV based on the 10:30am close.