V2 Model September 3, 2022 UPDATE

Recap

Markets finished lower for a third straight week. The SP500 is down more than 8 percent from its mid-August peak. This week included the end of August and the beginning of September. Both looked roughly the same, which is to say neither was good.

For the week, the major indices registered losses between 3.0-4.7%. It was the third straight losing week. The S&P 500, which kissed 4,325 on August 16, came within a hair of 3,900 before closing the week at 3,924.

The catalyst for a lot of the selling interest was a fear of the Fed that carried over from Fed Chair Powell's tough-minded policy speech in Jackson Hole. Cleveland Fed President Mester (FOMC voter) stoked that fear with an acknowledgment that she thinks the fed funds rate should be somewhat above 4.00% by early next year and that she does not anticipate there being a rate cut in 2023.

The V2 Model Portfolio was up this week.  V2 is now beating the SP500 by nearly 20 percent for 2022.

Performance This Week / YTD

V2 +1.99% / +2.99%

SPY -3.22% / -16.80%

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