2011 Performance Wrap-up

For the year my IRA increased 8.3%, relative to flattish performance by the S&P 500 for the year. For the month of December I slid backwards about 2% as positions in precious metals worked against me. I continue to believe that central banks likely pursue an expansionary policy going forward, and thus I plan to re-establish positions in precious metals in the near future. The timing in December was simply off, in my view, and timing is everything in these markets.

I plan to publish my outlook for 2012 in the near future.