Jordan Alvaredo @JordiAlvont: "📈𝐌𝐎𝐍𝐓𝐇𝐋𝐘 𝐑𝐄𝐏𝐎𝐑𝐓 - 𝑶𝒄𝒕𝒐𝒃𝒆𝒓 𝟐𝟎𝟐𝟓📈 📊𝑹𝒆𝒔𝒖𝒍𝒕𝒔 ..."

Spain

📈𝐌𝐎𝐍𝐓𝐇𝐋𝐘 𝐑𝐄𝐏𝐎𝐑𝐓 - 𝑶𝒄𝒕𝒐𝒃𝒆𝒓 𝟐𝟎𝟐𝟓📈 📊𝑹𝒆𝒔𝒖𝒍𝒕𝒔 October 2025 - -0.5% ✅2023 - 13.96% (since May) ✅2024 - 36.47% ✅2025 - 44.51% 📈Cumulative - 124.73% We closed the month of October with an almost flat performance, having gone through the worst and most volatile months of the year with a decent return, which is quite positive. The year-to-date return stands at 44.51%, significantly outperforming the 16.7% of the $SPX500 and continuing at a solid pace. Not every month can be excellent, but it’s important to stay firm during the most volatile months of the year. From now on, I would expect a rally in November given the recent cuts and generally good results. September surprised with a historically unusual rise, and now October turned out to be a month marked by volatility caused by several factors: the trade war between China and the United States, the FED’s interest rate cut policy, and the end of the war in Gaza. 𝑴𝒐𝒏𝒕𝒉 𝒔𝒖𝒎𝒎𝒂𝒓𝒚 The month began well with the end of the war in Gaza. The portfolio experienced a sharp rise, almost reaching a 4% monthly gain. However, at the end of the month, Trump threatened to raise tariffs on China, which created a strongly volatile market sentiment that affected the higher-beta assets in the portfolio. Then, on October 28th, the FED announced its interest rate cut policy. As the market expected, there was a 25-basis-point cut, but Jerome Powell’s comments regarding future cuts were not very encouraging, which led to a drop in the S&P500 and NASDAQ. In addition, the results of $META (Meta Platforms Inc) , although better than expectations, suggested higher expenses in 2026, which the market interpreted negatively and led to a major drop in Meta. Let’s also remember that the market reached all-time highs several times this month, which reflects a bullish market sentiment even in usually volatile months. I believe this streak could continue given the current outlook. 𝒀𝒆𝒂𝒓-𝒆𝒏𝒅 𝒐𝒖𝒕𝒍𝒐𝒐𝒌 Having passed what are historically the toughest and most volatile months of the year, we now have November and December ahead, which are usually the best months. From my point of view, the market could experience a strong year-end rally considering the two consecutive rate cuts that occurred this year. The cuts allow companies greater growth, which could boost their profits. Moreover, so far we are seeing good Q4 results in general from the tech companies that have reported: $ASML (ASML Holding NV) , $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) , $MSFT (Microsoft) The outlook is good, and the volatility is, in my opinion, unfounded and speculative. Therefore, I will continue with the current strategy, always with patience and a long-term vision. Even if it sounds repetitive, this month we’ve once again seen how volatility is a transitory illusion and how important it is to have patience and stick to the strategy, without being swayed by words, tensions, or news that don’t have a direct influence on the performance and growth of companies, which is what really matters in the end. Everything else is not investing, but speculation. Let’s be patient and face the end of the year with an optimistic yet cautious outlook. Good luck with your investments. $BTC $TSLA (Tesla Motors, Inc.) $NVDA (NVIDIA Corporation) $NSDQ100 $AAPL (Apple)