Aaron Chong En Wee
Aaron Chong En Wee
Singapore
4mo
Dear partners, I was wrong. In the portfolio's February update going into March, I ended the post by saying that "considering what has happened thus far, increasing uncertainty is probably the only thing guaranteed going into March 2026." Now that we have the hindsight April affords, "increasing uncertainty" would definitely be putting conditions faced in the past month lightly. For the majority of the days markets were opened in March, the SPX500 dropped steadily, approximately 7% in total, only somewhat recovering on its last day. As of this writing, the index currently sits at a year-to-date performance of -0.49%. While initially maintaining a positive performance for the year, the portfolio also lost all gains made thus far in 2026, slipping into negative territory. In my opinion, what was most interesting within the markets was how conventional safe haven assets responded, underperforming right when they weren't supposed to. For the month of March, the gold ETF (GLD) lost a grand total of 12.19% while the silver ETF (SLV) lost 16.46% in value. Some attribute this to a response to their massive jump in value over the past year, others would state that this indicates an increasing hoarding of liquid capital or a flight to safety in other assets. The portfolio allocated small amounts of capital whenever opportunity presented itself, with the largest perhaps into a re-entry in SLV. Moving forward, I'll be keeping a much closer eye on the markets, observing market/human behavior and acting to the best of my abilities. I'm not privy to any knowledge of what might happen next, but I'll certainly try my best to prepare accordingly. Thank you for your continued vote of confidence, particularly during this period. And all the best in your investment/trading endeavors. Alderique.
Not investment advice. The author may have financial interests in the mentioned instruments.
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