How Our No-Stock Portfolio Fared

Shortly after Thanksgiving last year, we created a Tofurky portfolio that managed to produce some tasty returns.

Aside from short sellers and people who had no money in stocks, investors weren’t feeling especially grateful around Thanksgiving of 2008. In fact, on the Monday after the holiday weekend, the Dow Jones industrial average lost nearly 680 points, or 7.7%. That was the fourth time in three months that the average had crashed by more than 675 points in a single day.

With distaste for stocks running high, we decided to assemble a stock-free portfolio that offered the potential of delivering stock-like results over time (see The No-Stock Portfolio). We called it the Tofurky portfolio.

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Jeffrey R. Kosnett
Senior Editor, Kiplinger's Personal Finance
Kosnett is the editor of Kiplinger's Investing for Income and writes the "Cash in Hand" column for Kiplinger's Personal Finance. He is an income-investing expert who covers bonds, real estate investment trusts, oil and gas income deals, dividend stocks and anything else that pays interest and dividends. He joined Kiplinger in 1981 after six years in newspapers, including the Baltimore Sun. He is a 1976 journalism graduate from the Medill School at Northwestern University and completed an executive program at the Carnegie-Mellon University business school in 1978.