Roberto Chamorro gilaberte @robchamow: "📝 If there is one..."

Spain

📝 If there is one thing I’m proud of, it’s maintaining communication when things are going well and, especially, when they are not. Over the years, I have consistently shared weekly updates and, during periods of higher uncertainty, even daily communications so that everyone copying my portfolio understands what is happening and why. I know many of you continue trusting the strategy and even add capital during periods when returns are not yet reflecting the underlying quality of the portfolio. That trust is something I take very seriously. Right now, I believe the portfolio is in a very attractive position. Most of our holdings are trading below their historical valuation ranges. The luxury sector is significantly below its long-term averages, several software companies remain undervalued, many AI-related businesses are priced as if their growth opportunities were disappearing, and demand-driven companies such as Uber are delivering record revenues and profits. From this point, I remain very optimistic. The portfolio is currently trading at roughly 22x forward earnings while maintaining gross margins, net margins, and ROIC levels that are well above market averages. I do not say this often, but in my view the portfolio is in one of its strongest positions for the next 12–18 months. Please do your own research and verify everything for yourselves, but when I look across the holdings today, I see businesses trading well below their normal valuation levels due to temporary narratives rather than deteriorating fundamentals. Since 2020, this approach has delivered a total return of approximately 265%, equivalent to around 25% annualized returns. We will continue following the same disciplined path. Roberto Chamorro. $NSDQ100 $SPX500 $GOLD $META (Meta Platforms Inc) $UBER (Uber Technologies Inc.)

Not investment advice. The author may have financial interests in the mentioned instruments.