Marko Grecs @emge2116: "🔷 𝙋𝙊𝙍𝙏𝙁𝙊𝙇𝙄𝙊 𝙍𝙀𝙎𝙏𝙍𝙐𝘾𝙏𝙐𝙍𝙄𝙉𝙂 🔷 I’m not..."

Slovenia

🔷 𝙋𝙊𝙍𝙏𝙁𝙊𝙇𝙄𝙊 𝙍𝙀𝙎𝙏𝙍𝙐𝘾𝙏𝙐𝙍𝙄𝙉𝙂 🔷 I’m not the kind of investor who constantly reshuffles their portfolio, but with everything happening in the markets lately, a few positions have changed enough to throw the portfolio structure off balance — and some investments simply no longer fit. So it feels like the right moment to restructure. ➤ PRECIOUS METALS Precious metals have performed exceptionally well over the past three years, fueled by inflation fears and political and economic uncertainties. Mining stocks also did well, though they’re harder to predict since they respond both to metal prices and overall stock market trends. With both precious metals and stock prices now very high and at risk of a larger correction, I decided to lock in some profits by selling a small portion of my Gold ETF holdings and a significant chunk of my gold mining stocks. Deciding which mining stocks to sell wasn’t easy. Normally, when gold rises, silver tends to rise way more, but this time it didn’t follow the usual pattern. Because of that, I focused on gold miners rather than PAAS. I like FNV for its gold royalties business. Among the remaining candidates for sale — NEM, WPM, and 2899.HK — NEM is very diversified and has a different price dynamic. NEM also went very high, but it didn’t exceed its previous all-time high by much, while WPM and 2899.HK shot way above theirs. So, the decision was left to these two. I like Zijin Mining because it provides exposure to the Chinese market and diversifies my portfolio, but its slightly stronger gains over the past three years tipped the scale. In the end, I sold all of Zijin Mining and only a portion of WPM. I’ll keep significant exposure to precious metals in my portfolio, as uncertain times show no signs of ending. ➤ STRUGGLING STOCKS On the other hand, I had some cleaning to do. Some stocks had been beaten down significantly. When bought, they all made sense, and most were defensive plays, with portfolio diversification in mind, but now most of them face too many headwinds with no recovery in sight. Besides, some were barely worth anything, so they had to go to make room for better opportunities. Luckily, my initial positions were small. The most common reasons these stocks underperformed were: 〰 Strategic mistakes & poor management 〰 Lower demand due to changing consumer behavior 〰 Overestimated demand 〰 Macroeconomic factors: rising input prices, currency risks 〰 Government regulations 〰 Financial troubles, especially high debt 〰 Operational challenges 〰 Legal issues 〰 Volatile earnings Some didn’t really fall much, but I no longer see prospects. I might reconsider a few in the future, like TAL, for example. ➤ SHORT POSITIONS I also closed two short positions to balance portfolio exposure after those stock sales. With fewer stocks in the portfolio, I don’t need as many shorts, and I don’t want to lose too much upside if markets continue to rise. I remain cautious, as I believe stock markets—especially in the tech sector—are strongly overpriced. Sooner or later, a correction is likely, and my remaining short positions will then come into play. ➤ CRYPTO Cryptos are in a tough spot. BTC has already gained heavily this cycle (over 80% above its previous ATH), but most altcoins haven’t moved much. I don’t consider ETH and BNB typical altcoins, as they track BTC more closely than others like ADA, LINK, DOT, and AVAX. Since these altcoins haven’t shown any strength at all in this cycle, I still expect at least some upside – at least reaching previous ATHs next year. After this correction, crypto now makes up far less than my intended portfolio allocation. Since I had some cash freed from other sales, I dedicated a small portion of my portfolio (around 2%) to crypto, as they were really beaten down. ➤ PLANS Besides concerns about high gold and mining stock prices, I’m considering selling a portion of NFLX. It’s performed very well in recent years and now holds huge profits, which could get decimated if markets go down. Not that I don’t see long-term potential, it remains a clear leader in streaming industry, but competition is increasing, growth is slowing, and the current price is really high. So, I’m just thinking that holding such a large position at the moment is too risky. On the other side, a few struggling stocks are also candidates for sale, like FMC and ILMN. RIO is also on the chopping block, as there are simply too many “Basic Materials” stocks in the portfolio right now, and I’d likely miss it least despite its solid dividends. I’m not 100% certain about these moves yet, but if the market improves over the next few days or weeks, I may execute this plan. Given the uncertainty around the AI bubble, I still want to keep some stocks that offer upward potential. Overall, I’m confident in the new portfolio structure and like having some spare funds available for new investment opportunities. $SPX500 $NSDQ100 $BTC $USDOLLAR $GOLD

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SPX500

NSDQ100

BTC

Bitcoin

USDOLLAR

GOLD

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