Portfolio update:
The $BTC position has hit my stop loss and sold out. There was nowhere near the level of support at the 70k level I expected and seeing it so quickly pass this means I'm... well obviously not happy... but content with the decision to get out at this level.
There has been a distinct shift in sentiment for the entire crypto market and very little optimism left. Hindsight is wonderful and I definitely could have sold out sooner, but with the holding size I had and the stop loss being at sensible level - I still argue from risk/reward it was not a bad investment when made, just shift in sentiment over the past few months has made it turn out bad.
I've said this before I'm sure, but when, and what to sell is often harder than deciding what to buy. I do monitor how investments I have sold have performed since sale, having things go up a lot after being sold is a special kind of pain for an investor but should not lead to paralysis in decisions.
I also sold the position in $NEXI.MI (Nexi S.P.A) which is a European payment processing company which is not performing to how you might expect in the fintech sector. This one I have lost patience with and although its good value and there is room to turn the business around, it seems like a classic 'value trap' where it is just slowly bleeding away in share price and revenue is not improving.
Onto some brighter news. I am really pleased to find that $DBMF (iMGP DBi Managed Futures Strategy ETF) is now available to trade. This will greatly simplify risk management for the portfolio as this should give a strong return in a downwards trending market. This will eliminate the need to have short position and create a safe haven position which is getting tricky to find at the moment.
What would in years past work for hedging against the stock market for safety, such as buying bonds (these have also gone down in step with the market recently) or gold (become too volatile over the past year to be realistically 'safe') are no longer working. This fund takes aggregate hedge fund positions to replicate the performance of investment in a hedge fund without the sky high fees. This should bring positive returns when the market is moving strongly in one direction but will lose slightly with a market without a clear direction.
As always these are my own opinions and are not investment advice.
All the best,
Paul... Show More
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