Dear Copiers
August saw the portfolio return to growth after a disappointing July. Nothing much to write home about, as we largely tracked the major US indices, which finished the month stronger than they started, albeit below intra-month highs. It was a better month for the AI focused momentum stocks,... Show More
Dear Copiers,
I’ll start with the obvious - July was not a good month. A 12.1% loss is the worst month I’ve had in a decade, and that was driven by a big collapse in momentum almost as soon as the month started. Sandisk in particular was a big faller, down almost 50% in the month at one point, but was... Show More
Dear copiers,
I carried out the quarterly rebalance yesterday in line with the new rules I alluded to last week. July has started in a disappointing way, which has given the updates to strategy an early test. The evidence so far is that the new quality factor I introduced is working as intended, as... Show More
𝐅𝐫𝐨𝐦 𝐏𝐮𝐫𝐞 𝐌𝐨𝐦𝐞𝐧𝐭𝐮𝐦 𝐭𝐨 𝐌𝐮𝐥𝐭𝐢-𝐅𝐚𝐜𝐭𝐨𝐫: 𝐓𝐡𝐞 𝐍𝐞𝐱𝐭 𝟏𝟎 𝐘𝐞𝐚𝐫𝐬
Dear copiers,
This is advance notice that next week I plan to make the biggest changes I have made to my strategy in nearly a decade. The momentum strategy I have been running for the past nine and a half... Show More
𝐀𝐧𝐲 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐋𝐨𝐨𝐤𝐬 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐨𝐧 𝐚 𝐒𝐮𝐧𝐝𝐚𝐲 𝐀𝐟𝐭𝐞𝐫𝐧𝐨𝐨𝐧
We tend to view investing as a mathematical pursuit. If you have the right data inputs, you’ll get the outputs you are after. But we are notoriously bad at underestimating the importance of... Show More
Dear copiers,
Today has seen a bit of a pullback for the portfolio, which is not entirely unexpected coming off the back of a fairly substantial run-up. While the scale of this run-up is not unprecedented, it is certainly uncommon. My outlook is very long term, so this drop isn’t something which particularly... Show More
Dear copiers,
Today is the quarterly portfolio rebalance. Performance for the quarter was +18.6%, against the roughly 4% (including dividends) returned by the benchmark S&P500. Coupled with the strong start enjoyed in January, this has pushed YTD performance to 26.5%, which also compares favourably... Show More
Dear copiers,
I carried out the quarterly rebalance late last week. Performance for the quarter was +10.5%, which compares very favourably to the +1.6% the S&P500 benchmark returned over the same timeframe.
Despite this, it was not enough to rescue 2025 full year performance, which at 6.24% trailed... Show More
Dear copiers,
I carried out the quarterly rebalance today. As I’m a little out of schedule and still feeling jet lagged I don’t have the full performance data for all my holdings, but what I do know is that the 5% gain since the last rebalance is a slight underperformance of the benchmark SP500, which... Show More
Dear copiers, just a quick note to say that next Monday's scheduled rebalance may be delayed a week, as I'll be on holiday.
I've read mixed messages on whether Etoro is available in the country I'm visiting - if it is I will carry out the rebalance as planned (although my quarterly... Show More
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