Jamie Leinhardt
Edited
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Ÿฒ โ€“ ๐—ข๐—ฐ๐˜๐—ผ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿญ Stock markets globally did really well in October, and I'm pleased to say that our portfolio outperformed all of them, and is back at all-time highs, with an outstanding performance of 8.9% in October ๐Ÿ™‚ Performance of our portfolio: 8.9% Performance of the S&P 500: 6.9% Performance of the NASDAQ 100: 7.9% The sell-off in September turned out to be a great buying opportunity, even though it felt counterintuitive at the time. $SPX500 is now back at new highs, although it goes without saying that this level of performance (8.9% in one month!) canโ€™t be expected to be repeated every month. I reviewed the portfolio during October and decided to make a few changes. Iโ€™ve posted about some of these separately (for example I posted about Campari & Diageo yesterday, and the sale of PayPal & purchase Coinbase a couple of weeks ago). Essentially, I reviewed our holdings within each sector, and decided to add to those holdings where I had the most conviction and sold those I wasnโ€™t as confident about. In most cases, the sales crystallised some profit, which was then used to top up other holdings. In some cases, we took a small loss. ๐—ฆ๐˜‚๐—บ๐—บ๐—ฎ๐—ฟ๐˜† ๐—ผ๐—ณ ๐—ฟ๐—ฒ๐—ฐ๐—ฒ๐—ป๐˜ ๐˜€๐—ฎ๐—น๐—ฒ๐˜€: The sale of Danaher and Campari made approximately 9% each. Estee Lauder generated approximately 5% profit. DSV Panalpina, which was only a very small holding of ours, was sold with a 5% loss. We lost 3.5% on PayPal. We sold PayPal at an average of $257 and it has subsequently fallen by another 10%, so I feel like my decision to take a loss there has been vindicated, even though they are no longer pursuing their acquisition of Pinterest. All of the proceeds from the sales were used to top up our existing holdings. 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 (NVIDIA Corporation), $IMCD.NV (IMCD NV), $FTNT (Fortinet Inc) Top detractors: $ERF.PA (Eurofins Scientific SE), GRMN Iโ€™ve included a chart displaying the current composition of the portfolio as at the end of October 2021. Iโ€™ll also be posting a link to the monthly factsheet later today. Regards, Jamie
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