Michael Szumielewski @CaridinaCapital: "𝗣𝗢𝗥𝗧𝗙𝗢𝗟𝗜𝗢 𝗨𝗣𝗗𝗔𝗧𝗘 Performance since Sept 2021: Portfolio..."

Germany

𝗣𝗢𝗥𝗧𝗙𝗢𝗟𝗜𝗢 𝗨𝗣𝗗𝗔𝗧𝗘 Performance since Sept 2021: Portfolio +30.05% $SPY (State Street SPDR S&P 500 ETF) +23.14% $QQQ (Invesco QQQ) +23.37% The markets are down this year and so is my portfolio, although a little bit less than the indices. We are still outperforming the benchmarks for the period since 2021. Our holdings are fundamentally still in great shape, earnings have not come down yet, but the valuations have been adjusted down by investors. I am still 35% in cash and waiting for buy opportunites. The cash is invested in short-term treasury bonds, so inflation is not eating away at our money. Stock prices follow earnings, that is the only thing I am concerned about. Overall earnings estimates are still positive, but have come down since the beginning of the year. We will get a better picture how the economy is doing in one month when earnings season starts again. Regarding macro, the last weeks have shown that the Trump administration is utterly incompetent chaising after the completely wrong economic ideas. Bad execution and stupid decisions have consequences. S&P 500 valuations are probably too high in light of the poor handling of the economy by the US government and we might see a bear market soon. It's hard to predict where the market will go next, but it should be no surprise to anyone if the US is in a recession by the end of the year. My edge in investing is buying quality companies when they are temporarily undervalued, just like during the downturn in 2022. We made amazing returns this way. It's increasingly likely that we will finally get the chance to buy great businesses at cheap valuations again soon. If the market continues to drop, it's honestly the best time to start copying my portfolio to get the maximum performance from my quality investing strategy. $SPX500 $NSDQ100 $DJ30

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