Nabil Sifo @NabilSifo: "𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐮𝐩𝐝𝐚𝐭𝐞: 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐞 𝐬𝐭𝐚𝐫𝐭 𝐢𝐧..."

Germany

𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐮𝐩𝐝𝐚𝐭𝐞: 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐞 𝐬𝐭𝐚𝐫𝐭 𝐢𝐧 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 Dear Copiers and followers, The first week of September was very volatile, living up to the reputation of September. Not every day was red though, and our portfolio is still holding in the green still, thanks to the broad diversification across different uncorrelated sectors. The worst performance across our portfolio was the semiconductor stocks, which I believe is a temporary pullback. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞: Last week the US job data was released with the number of jobs added at 22,000 in August, which is dramatically lower than economists’ expectations of 76,500 jobs! This implies that the economy lost jobs (in total) and the unemployment level rose to 4.3%, the highest level since 2021. The reason for this shrinkage in job offerings, in my opinion, is related to the tariffs impact on the cost of manufacturing and probably the new stricter immigration rules, which reduce the amount of cheap available labor, especially in manufacturing. 𝐖𝐡𝐲 𝐚𝐫𝐞 𝐣𝐨𝐛 𝐝𝐚𝐭𝐚 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐬𝐭𝐨𝐜𝐤 𝐦𝐚𝐫𝐤𝐞𝐭? Job data are one of the most important indicators of economic growth. This data reflects the impact of new policies and inflation on the economic. When job data show signs of economic weakening, the Federal Reserve suffers more pressure to react and reduce the interest rate. Reducing (cutting) the interest rate means cheaper money to borrow for companies. The lower interest rate also puts growth stocks, which are not profitable yet, in a better position, and mostly the stock market rises when the interest rate falls. 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭: One month is not enough data to draw conclusions, but enough to get alerted. Use this info with caution because mapping the relation between the economy and the stock market is way more complicated than one straightforward correlation. 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐔𝐩𝐝𝐚𝐭𝐞: Last week was really a mixed performance for the stocks in our portfolio. While the semiconductor stocks dragged the portfolio down, our latest addition to the portfolio performed exceptionally well. Chinese exposure moved higher, and both $IOT (Samsara Inc) and $OSCR (Oscar Health Inc) had strong runs. Another great run last week was $HIMS (Hims & Hers Health Inc) stock, which moved almost 14%. This rebound in HIMS stock came after a U.S. District Judge threw out Eli Lilly’s case against Willow, a telehealth provider offering compounded formulations of Lilly’s GLP 1 drugs. This reduced the risk of a potential lawsuit against HIMS based on the $NVO (Novo-Nordisk A/S SPONS ADR) claims of mass compounding. Last week there were no changes in our portfolio, and I am planning not to change much in the portfolio this month. We hit a new lower risk score of max 4. This is even very low for my risk appetite, but shows good resilience against potential volatility in September. Best regards, Nabil Sifo $SPX500 $NSDQ100 ________________________________________________________________________ I am a professional risk modeler and an Associate Member of the Chartered Institute for Securities & Investment (CISI), London. All posts reflect my personal opinions only and do not constitute, nor should they be interpreted as, financial advice or a recommendation to buy or sell any securities. 𝐑𝐢𝐬𝐤 𝐖𝐚𝐫𝐧𝐢𝐧𝐠𝐬: Copy Trading does not amount to investment advice | Your capital is at risk | Past performance is not indicative of future results.