๐ฅ ๐ก๐ฒ๐ ๐๐ถ๐ฑ๐ฒ๐ผ ๐๐ฝ๐ฑ๐ฎ๐๐ฒ ๐ฝ๐ผ๐๐๐ฒ๐ฑ
Please check out the video when you have time.
I try to do these updates especially when performance has not been smooth. It is important to show up during difficult periods, not only when things are going well.
The last few weeks are also a reminder of how quickly markets can move.
At the end of last month, the portfolio was down and the relative underperformance looked much wider.
As of today, the portfolio is up approximately ๐ฒ.๐ด๐ฐ% ๐ฌ๐ง๐, compared with approximately ๐ต.๐ฐ๐ต% for the S&P 500.
That still means we are behind the benchmark, but the gap has narrowed meaningfully.
The main issue this year has been participation. The market has rewarded AI, semiconductors, and large-cap US technology, while we have been positioned more toward China, payments, private credit, shipping, and valuation-led opportunities.
We also reduced Autohome $autohome ahead of earnings. The position was trimmed at a slight profit. The longer-term asymmetry remains interesting, but I am less comfortable with the near-term earnings setup, so sizing was adjusted accordingly.
The process remains the same:
๐ฃ๐ฟ๐ผ๐๐ฒ๐ฐ๐ ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น.
๐ฅ๐ฒ๐๐ถ๐ฒ๐ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ๐ ๐ต๐ผ๐ป๐ฒ๐๐๐น๐.
๐๐ผ ๐ป๐ผ๐ ๐ฐ๐ต๐ฎ๐๐ฒ ๐ท๐๐๐ ๐ฏ๐ฒ๐ฐ๐ฎ๐๐๐ฒ ๐๐ผ๐บ๐ฒ๐๐ต๐ถ๐ป๐ด ๐ต๐ฎ๐ ๐ฎ๐น๐ฟ๐ฒ๐ฎ๐ฑ๐ ๐ด๐ผ๐ป๐ฒ ๐๐ฝ.
๐๐ฒ๐ฝ๐น๐ผ๐ ๐๐ต๐ฒ๐ฟ๐ฒ ๐ฟ๐ถ๐๐ธ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐๐ฎ๐ฟ๐ฑ ๐ฏ๐ฒ๐ฐ๐ผ๐บ๐ฒ ๐ฎ๐๐๐ฟ๐ฎ๐ฐ๐๐ถ๐๐ฒ.
Thank you for your patience.
Not investment advice.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
๐ฉ๐ถ๐ฑ๐ฒ๐ผ ๐๐ถ๐บ๐ฒ๐๐๐ฎ๐บ๐ฝ๐
00:00 Introduction and disclaimer
01:30 First-half portfolio performance
03:20 July rebound and performance gap
04:25 Market environment: AI, semiconductors and China
06:30 Current portfolio allocation
07:40 Changes to shipping and capital deployment
08:40 Performance by major portfolio area
10:50 China value and growth positions
11:55 Extremely weak China market sentiment
13:10 Payments sector and stock-specific issues
14:40 Position review and risk-management process
15:40 Portfolio strategy and future positioning
17:00 Conclusion and closing remarks
www.youtube.com/watch?v=-8Y-S5CvGUY... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
Well done Zech. Stay 8nvested in long term strategy will give positive result, improve and develop some positions during downtrend period will give bost when market rebound. Stay tuned Zech ๐ช... Show More
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