I'll sumarize the perspective from which I manage my portfolio with
anual returns around 15%.
(My portfolio is not published in Unience because Inversis Banco is
not available yet at Unience.com) Unience manager's please !!
A mild recession in Europe is the base case, so I maintain a
defensive bias. (Strong liquidity position)
Reduction on emerging markets exposure in favour of Japan.
Investments are maintained only in large caps with high dividend yield.
5% of the portfolio is used in trading derivatives -only
punctually- due to the high volatility, trading options (not futures)
is becoming safer with the "exit with gains strategy" as
oportunities come quite easily.