Fernando Gutierrez Lopez @chadant09: "𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗥𝗲𝗰𝗮𝗽: 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗨𝗽𝗱𝗮𝘁𝗲 𝗮𝗻𝗱..."

Spain

𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗥𝗲𝗰𝗮𝗽: 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗨𝗽𝗱𝗮𝘁𝗲 𝗮𝗻𝗱 𝗠𝗮𝗿𝗸𝗲𝘁 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 March delivered a +0.64% return, bringing our Year-to-Date (YTD) performance to just over +3%. While we are currently underperforming the S&P 500, which posted a +7.76% gain over the same period, I remain confident that we are well-positioned to outpace the index in the near future. 𝐆𝐞𝐨𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐂𝐨𝐧𝐭𝐞𝐱𝐭 & 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 In the Middle East, geopolitical tensions and uncertainty remain high. A comprehensive peace agreement involving Iran, the U.S., and Israel is highly complex, and recent developments highlight how quickly the balance of power can shift. While this will likely continue to fuel market volatility, it will also create highly attractive investment opportunities. As a reminder, my focus remains strictly on the economic and financial implications of these events, rather than the politics themselves. 𝐓𝐞𝐜𝐡 𝐒𝐞𝐜𝐭𝐨𝐫 & 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 On a personal note, I believe AI and technology companies are trading at increasingly stretched multiples, which is the core issue behind these premium valuations. While I anticipated a sharper downside correction, the market has a way of reminding us that nobody possesses a crystal ball. Consequently, I decided to increase our market exposure this past Friday. It is also worth noting that market pullbacks of this magnitude are rarely resolved in a single session. History suggests that volatility often takes time to fully play out before the market finds its footing. 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐌𝐨𝐯𝐞𝐦𝐞𝐧𝐭𝐬 New Positions: Opened a new position in $COIN (Coinbase Global Inc) Increased Positions: Added to my existing position in $IONQ (IONQ Inc) Crypto Assets: Holding $BTC and $SOL as core components of our diversification strategy. As always, I will continue to add capital on a monthly basis. Best regards, Fernando Gutiérrez @chadant09

Not investment advice. The author may have financial interests in the mentioned instruments.