Andrea Marcon @AndreaMarcon16: "📊 𝗝𝘂𝗹𝘆 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆..."

Switzerland

📊 𝗝𝘂𝗹𝘆 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear Copiers & Followers, As we head into our first full week of 𝗔𝘂𝗴𝘂𝘀𝘁, I thought I would write a 𝙨𝙝𝙤𝙧𝙩 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙪𝙥𝙙𝙖𝙩𝙚 post as always... 📈 July was a 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗺𝗼𝗻𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼, recording a +𝟭.𝟮𝟰% 𝗴𝗮𝗶𝗻, bringing the 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼'𝘀 𝗬𝗧𝗗 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝘂𝗻𝘁𝗶𝗹 𝗔𝘂𝗴𝘂𝘀𝘁 1st up 𝘁𝗼 +𝟭.𝟰𝟬%, and outperforming the $SPX500 for the month (+1.13%) . We used the market rally that kicked off towards the later half of the month to 𝗰𝗹𝗼𝘀𝗲 𝗮 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀 𝗮𝘁 𝗮 𝗽𝗿𝗼𝗳𝗶𝘁 𝗮𝗻𝗱 𝗰𝗼𝗻𝗳𝗶𝗿𝗺 𝗼𝘂𝗿 𝗴𝗮𝗶𝗻𝘀. 𝗠𝗮𝗷𝗼𝗿 𝗺𝗮𝗿𝗸𝗲𝘁 𝗺𝗼𝘃𝗲𝗿𝘀 for us this month included: ◾ $FITB (Fifth Third Bancorp) with a +𝟭𝟲.𝟬𝟬% 𝗴𝗮𝗶𝗻 ◾ $STERV.HE (Stora Enso Oyj) with a -𝟴.𝟬𝟱% performance As regards specific 𝙘𝙝𝙖𝙣𝙜𝙚𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤, we: ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟰 of our investment in $FITB (+𝟱𝟯.𝟵𝟲% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $ENEL.MI (Enel Power Company) (𝟮𝟮.𝟯𝟯% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $FNF (Fidelity National Financial Inc) (𝟭𝟲.𝟱𝟳% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $ELPC (Companhia Paranaense de Energia - COPEL) (𝟴.𝟲𝟲% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟮 of our investment in $BERY (+𝟴.𝟱𝟳 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟱 of our investment in $NOMD (Nomad Foods Ltd) (+𝟳.𝟲𝟬% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟯 of our investment in $ASO (Academy Sports and Outdoors Inc.) (+𝟯.𝟳𝟱% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $MGY (Magnolia Oil & Gas Corp) (currently 𝘂𝗽 𝟬.𝟱𝟬%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $NTR (Nutrien Ltd) (currently 𝘂𝗽 𝟬.𝟰𝟲%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $RIO (Rio Tinto PLC ADR) (currently 𝘂𝗽 𝟬.𝟯𝟵%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $CTRA (Coterra EnerCoterra Energy Inc) (currently 𝗱𝗼𝘄𝗻 𝟭.𝟯𝟲%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $CIG (Companhia Energetica de Minas Gerais-ADR) (currently 𝗱𝗼𝘄𝗻 𝟭.𝟲𝟬%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $UBS (UBS Group AG) (currently 𝗱𝗼𝘄𝗻 𝟯.𝟬𝟰%) 🔍 𝗪𝗵𝗮𝘁 𝘁𝗼 𝗲𝘅𝗽𝗲𝗰𝘁 𝗶𝗻 𝗔𝘂𝗴𝘂𝘀𝘁... ◾ Whereas July ended with a strong rally, 𝗔𝘂𝗴𝘂𝘀𝘁 𝗵𝗮𝘀 𝗸𝗶𝗰𝗸𝗲𝗱-𝗼𝗳𝗳 𝘄𝗶𝘁𝗵 𝗮 𝗺𝗮𝗷𝗼𝗿 𝘀𝗲𝗹𝗹-𝗼𝗳𝗳, wiping July's gains. Fortunately, we took profit on a number of positions prior to the sell-off, and used the market downturn to purchase shares in multiple companies on our watchlist at a 'discount'. ◾ The 𝗻𝗲𝗴𝗮𝘁𝗶𝘃𝗲 𝗨𝗦 𝗷𝗼𝗯𝘀 𝗿𝗲𝗽𝗼𝗿𝘁, which 𝗹𝗶𝗸𝗲𝗹𝘆 𝗳𝘂𝗲𝗹𝗲𝗱 𝘁𝗵𝗲 𝘀𝗲𝗹𝗹-𝗼𝗳𝗳, has raised 𝗱𝗼𝘂𝗯𝘁𝘀 𝗼𝗻 𝗨𝗦 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗼𝘂𝘁𝗹𝗼𝗼𝗸. This doubt has hit share-prices across multiple sectors, such as the oil & gas and financial sectors. We will see how short-term sentiment evolves and whether the sell-off progresses over the course of the next week(s). ◾ 𝗖𝗣𝗜 𝗡𝗲𝘄𝘀 𝗮𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 will undoubtedly continue to influence market sentiment. Though sentiment will certainly affect the portfolio's performance in the short-term, it is important to remember that our 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗯𝘂𝗶𝗹𝘁 𝘂𝗽𝗼𝗻 𝘃𝗮𝗹𝘂𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗶𝗱-𝗹𝗼𝗻𝗴 𝘁𝗲𝗿𝗺. Still, we will make sure to take advantage of negative periods to purchase stocks in our shortlist at a '𝗱𝗶𝘀𝗰𝗼𝘂𝗻𝘁'. ◾ We are also expecting 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 from: $CTRA, $CF (CF Industries Holdings Inc), $ATKR (Atkore Inc.) and 𝗻𝗼𝘁𝗮𝗯𝗹𝘆 $PBR (Petroleo Brasileiro SA Petrobras-ADR), among others. This is all for now, happy trading everyone, Andrea

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