Performance
YTD: 14.2%
Performance YTD result is an estimated percentage based on a model account and may not be performance of your account.
As Of: 07/31/2019
Market Exposure
  • Equities
    87%
  • Cash
    13%
United
Strategy Overview:

The United Portfolio is a 50/50 combination of the CAN SLIM® investment program and the Legends Value investment program designed to build a comprehensive core stock portfolio.  

Date Update
January 1, 2019

What is your outlook for the U.S. equity market for 2019?

Our global tactical asset allocation (GTAA) model still signals a relatively bullish outlook for the U.S. equities. Strong readings in sentiment and valuation indicators outweigh weaker technicals and recent price pullbacks. 

In 2018, the U.S. economy enjoyed a banner year with real GDP annual growth rate on track to increase by close to 3%, which is the strongest gain of the nearly decade-long expansion. We believe the deficit-financed tax cuts and government spending increases will continue to help the economy grow much of next year. We also expect the labor market to continue to grow and unemployment to stay low by historical standards. 

Despite these positive signals, we do recognize some possibilities of weakness moving forward. The stimulus effect might fade and put downward pressure on the market in the longer term and diminishing labor supply might result in gradually decreasing prices. The ceasefire between the U.S. and China may indicate that the worst of the escalations are behind us. However, the trade tension remains and might contribute to equity volatility. We do expect some market volatility to continue through 2019 despite our model indicating that the odds of a near-term recession remain relatively low.

February 1, 2017

Citrix first announced plans for the spinoff of its GetGo division in November 2015. Last July, an agreement was reached with LogMeIn(LOGM) to merge with GetGo immediately post spin off in a Reverse Morris Trust transaction. Citrix announced that shareholders of record on January 20 (which includes NorthCoast clients in CAN SLIM®) will receive approximately .1718 shares of LogMeIn on January 31 for each Citrix share owned. The final ratio will be based on the actual number of outstanding shares on the record date.  After the transaction, Citrix shareholders will own approximately 50.1% of LogMeIn.

More information on the split can be found here

*The spin off may impact how you view your portfolio in that Citrix (CTXS) spun off GetGo resulting in a reduction of the value of your Citrix stock in exchange for 0.1718 of LogMeIn (LOGM) per share owned of Citrix. This will adversely affect the balance of your account today by a negative of 0.40%, because the value of the new position is not yet being included into the current account value.  When reading your account performance today, you should increase the value by approximately 0.40%.  If you have more questions about the transaction, please reach out to your NorthCoast Advisor.  

September 1, 2015

As equities declined in August, CAN SLIM® experienced a pullback in line with the S&P 500. After the unexpected decline, CAN SLIM® sought to take advantage with purchases of AAPL, GS, and VLO.

September 1, 2015

Legends Value managed to soften the blow of the August decline as the strategy fell roughly 1.5% less than the S&P 500. Stock selection was a key differentiator in the performance.

July 1, 2015

Legends Value remained in line with its value competitors and remains positive YTD. Value stocks as whole have underperformed their growth counterparts.

June 2, 2015

With a quarter of the strategy in cash, CAN SLIM® relied on stock selection to outperform the S&P 500 in May. While stocks such as AA, DAL, and UNP hampered performance, EA, GILD, and UNH helped the strategy outperform the broad market for the month and move positive for the year-to-date.

May 12, 2015

In a deal announced this morning, Verizon Communications will purchase AOL. This news boosted AOL’s daily performance almost +18%. The big gains in AOL kept Legends Value positive in a day when the market traded in negative territory. Today’s action adds to the +10% movement AOL experienced after its recent quarterly earnings report. NorthCoast liquidated AOL after the jump.

May 4, 2015

With high valuations and weakening macroeconomic data, CAN SLIM® reduced almost 10% of its equity exposure over the month. Low-scoring stocks were sold either as weak performers or companies whose performance exceeded the benchmark and profits were locked in.

May 4, 2015

Value stocks remained in line with the general market. Legends Value has had a productive year with multiple stocks posting double-digits gains. 75% of holdings remain in positive territory.

April 6, 2015

NorthCoast’s deep-value strategy, Legends Value, benefitted from a positive market early in the year even though value stocks as a whole underperformed their growth counterparts. A few positions with double-digit gains for the year boosted strategy performance.

April 6, 2015

CAN SLIM®’s equity exposure and growth universe guided performance in Q1. The strategy added exposure during the January pullback and benefited from February’s rebound. The omission of mega-cap names (i.e. AAPL) diminished relative strategy performance against the general market, and enters the 2nd quarter with a close eye on earnings season.

March 3, 2015

After starting the month 91% invested, CAN SLIM® began liquidating positions to reduce exposure as market outlook slightly weakened in the near-term. The strategy rebounded from a negative January with select positions (e.g. C, ECL, TXN) posting double-digit gains for the month.

March 3, 2015

Value stocks increased with the rest of global equities in February. With the rebound, the strategy liquidated PFE, XOM, and VZ and replaced with OIS, TRI, NVO, the latter increasing 10+% since its purchase point.

February 2, 2015

With a high equity investment level near 90% for most of the month, CAN SLIM® felt the effects of the broad market pullback.  So far earnings season has produced mixed results.  Examples are demonstrated by BIIB on the positive and MSFT to the negative.  

February 2, 2015

Value stocks were hit especially hard in January as the S&P 500 Value fell -4.4%. However, positive stock selection with the over allocation to discretionary stocks and slight underweight to energy stocks in January aided the portfolio. Legends Value saw a modest pullback compared to value stocks as a whole. 

January 19, 2015

Why hold GOOGL?

 

Since original purchase on 8/27/14 in CAN SLIM, GOOGL is currently -11.6%.... Why still hold it?  The stock holds relative value as the recent pullback boosted its attractiveness and analyst sentiment remains positive with its annoucement to compete with big players like Verion/AT&T/Sprint in the mobile service provider community. 

January 8, 2015

Delta Airlines (DAL) took flight in 2014 as top-performing stock in CAN SLIM. Coming off near lows in October, the stock increased +60% in value to end the year +75% in the portfolio. The position was originally purchased on 1/2/2014. 

January 6, 2015

Throughout the year, value stocks underperformed their growth counterparts. Legends Value’s fully-invested mandate provided strong returns off the periodic pullbacks but its high exposure to oil stocks in the 2nd half of the year dampened performance.

January 6, 2015

With a high equity investment level near 100% and a low at 65% invested, CAN SLIM® navigated a volatile yet positive 2014. Keeping in line with the S&P 500, CAN SLIM posts a double-digit gain for the 2nd year in a row as quality stock picking and improved risk metrics propel the strategy.

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