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Ÿฎ๐Ÿฌ โ€“ ๐——๐—ฒ๐—ฐ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ Iโ€™d like to begin by saying Happy New Year. I hope that 2023 brings everyone health, wealth and happiness. Decemberโ€™s performance was, in a way, a reflection of the entire year. Pretty poor. Our portfolio lost 6.09% during the month, broadly in line with our benchmark, $SPX500, which was down 5.90%, and ahead of the $NSDQ100 which was down just over 9%. Despite the poor performance in 2022, Iโ€™m optimistic about 2023. Almost everyone expects 2023 to be a poor year, and thatโ€™s reflected in current valuations. With a large amount of negative sentiment already baked into stock prices, in my opinion thereโ€™s a greater possibility that performance surprises to the upside. Inflation should begin to fall, and the best-case scenario is that the upcoming recession will be a short and sharp one, hopefully followed by many years of economic growth. Our portfolio remains diversified, with c44% in technology (including semiconductors), c28% in consumer goods, and the remaining c28% mainly split between healthcare and industrials. I will be continuing to invest throughout the new year, drip-feeding into equities for the long term to take advantage of the depressed valuations. Our largest detractors this month were $NVDA (NVIDIA Corporation) and $GOOG (Alphabet) Our largest contributor was $NVO (Novo-Nordisk A/S SPONS ADR) December performance: Performance of our portfolio: -6.09% ๐Ÿ”ด Performance of the ๐—ฆ&๐—ฃ ๐Ÿฑ๐Ÿฌ๐Ÿฌ: -5.90% ๐Ÿ”ด Performance of the ๐—ก๐—”๐—ฆ๐——๐—”๐—ค ๐Ÿญ๐Ÿฌ๐Ÿฌ: -9.06% ๐Ÿ”ด 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: NVO, CROX Top detractors: NVDA, GOOG, AMD Iโ€™ve included a chart displaying the current composition of the portfolio as at the end of 31st December 2022. The monthly factsheet is also available on my website: www.jamiemarc.com/factsheet.php Regards, Jamie