Jamie Leinhardt
๐Ÿ”ธ ๐— ๐—ข๐—ก๐—ง๐—›๐—Ÿ๐—ฌ ๐—จ๐—ฃ๐——๐—”๐—ง๐—˜ ๐Ÿ”ธ ๐— ๐—ผ๐—ป๐˜๐—ต ๐Ÿญ๐Ÿต โ€“ ๐—ก๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ A great end to the month (our portfolio was up 3.5% on 30th November) cemented a solid performance for our portfolio in November. We ended the month with a gain of over 8%. Our portfolio significantly outperformed our benchmark, the S&P 500, as well as the Nasdaq 100. Are we still in a bear market? Everyone is expecting a recession in the near future but that doesnโ€™t necessarily mean that the market will perform badly, whether a recession materialises or not. Iโ€™ve stated before that extremely strong months often happen within bear markets, and weโ€™ve just had an extremely strong month (following an extremely strong October too). Bear markets must finish at some point. Itโ€™s difficult to know at the time, but when you look back in many months or years, itโ€™s always so obvious. As itโ€™s so difficult to second-guess the market, I take the decision to have a long-term outlook and remain invested throughout the ups and downs. I choose high quality companies that I expect to grow their earnings over the long term. I have diversified our holdings further this month, adding $ADP (Automatic Data Processing Inc), $COST (Costco Wholesale Corp), $KEYS (Keysight Technologies Inc), ODFL and WM This will hopefully reduce the volatility of our returns in the future but retain our ability to outperform. Our largest contributors were $NVDA (NVIDIA Corporation), $RMS.PA (Hermes International) and our largest detractor was $FTNT (Fortinet Inc) (which was our largest contributor last month). November performance: Performance of our portfolio: 8.36% ๐ŸŸข Performance of the ๐—ฆ&๐—ฃ ๐Ÿฑ๐Ÿฌ๐Ÿฌ: 5.38% ๐ŸŸข Performance of the ๐—ก๐—”๐—ฆ๐——๐—”๐—ค ๐Ÿญ๐Ÿฌ๐Ÿฌ: 5.48% ๐ŸŸข ๐—Ÿ๐—ฎ๐—ฟ๐—ด๐—ฒ๐˜€๐˜ ๐— ๐—ผ๐—ป๐˜๐—ต๐—น๐˜† ๐— ๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฒ๐—ป๐˜๐˜€: Top contributors: NVDA, RMS.PA, AMD, ASML, CROX Top detractors: FTNT, INTU Iโ€™ve included a chart displaying the current composition of the portfolio as at the end of 30th November 2022. The monthly factsheet is also available on my website: www.jamiemarc.com/factsheet.php Regards, Jamie