As I mentioned in a previous post, I have been selling my fully-priced equity positions into the frothiness that we observed at the start of 2011.
At this point, the portfolio is approximately 40% cash, and 60% equities. Since the last post, I have been nibbling away at some undervalued equities.
My hope is that in the near future more interesting opportunities will present themselves. As I see the market soften over last month, I see that as rise in the value of my cash position valued in equities.
