By The Sizemore Letter<\/u><\/p>\n
To everything there is a season.\u00a0 After trailing the market for the first half of the year, the Sizemore Global Macro Portfolio<\/a> has come roaring back with a vengeance.\u00a0 According to returns data compiled by Covestor, the portfolio was up 17.0% in the 90 days to October 1 vs. a gain of 4.9% on the S&P 500.<\/p>\n The reason for the reversal of fortune?<\/p>\n Our allocation to social media stocks via GSV Capital<\/b> (<\/span>GSVC<\/a>)<\/span> was certainly a contributing factor. GSV Capital is up 80% year to date, and it is one of the portfolio\u2019s largest holdings.<\/p>\n But the biggest contribution came from the portfolio\u2019s allocation to Europe.\u00a0 10 of the portfolio\u2019s 22 current holdings are domiciled in Europe.\u00a0 This overweighting was a major drag on performance during the first half of 2013, as the U.S. markets massively outperformed virtually all others.\u00a0 But as investors rediscover the investment merits of the Old World, the gap is closing fast.<\/p>\n I expect to see Europe outperform the U.S. markets for the remainder of 2013 for the following reasons:<\/p>\n Disclaimer: All returns data is for informational purposes only; past performance is no guarantee of future returns.\u00a0 \u00a0<\/i><\/p>\n This article first appeared on Sizemore Insights as October 2013 Portfolio Outlook<\/a><\/p>\n\n