Market Update – by Linh C. Nguyen:
- The Fed announced their goal to keep the short-term interest rate steady around 0.25% to 0.5% and to lift the inflation rate to 2%.
- The Oil Market kept declining and recently hit it’s lowest point around $27 per share.
- IPhone sales fell short of projections. There are concerns that the market for smartphones is becoming saturated.
OIG Portfolio Update – by Siran Tang:
- Currently our portfolio consists of 15 stocks and 1 ETF (Exchange – Traded Fund).
- Starting from the end of 2015, due to the increase of the interest rate, the stock market has been falling, which has led our portfolio to lose around 10k.
- Now, we are looking into the European and Japanese stock market. Also, we are going to sell some of our stocks and try to buy some bonds.
Adirondack Cup Competition Update – by Rachael Abraham:
- Due to the overall underperformance of the stock market, the last quarter ended with around -8% return for our team.
- Now the team has a chance to change the portfolio, and they decided to change all the stocks they hold.
- While choosing 5 new stocks, depending on their observation of the market, the team decided not to look into the oil market, basic materials, and REIT’s。