James Alexander Booth @B3130jim: "Hello to Copiers and Followers, Firstly,..."

United Kingdom

Hello to Copiers and Followers, Firstly, a big thank you to everyone who has copied me, with particular thanks to our longstanding copiers. It makes me happy that the portfolio has closed the year very close to all-time highs. Going into the new year, all of the sectors we hold stocks in are trending higher strongly. I have reposted the attached chart because it shows an overview of the strong new uptrend that our emerging market stocks are enjoying after a prolonged period of sideways movement. The Hong Kong Tech index is still approximately half the value of the previous peak it reached four years ago. On a valuation and technical perspective, the market looks primed to move higher. Emerging markets and gold have been excellent performers, and going forward the portfolio will continue to retain exposure to these sectors. With regard to gold, despite its strong run, investors remain deeply underweight gold but are moving portfolio weightings higher. The weighting of gold remains well below that marking the top of previous bull markets, which occurs when the public and investment funds are overweight gold and mainstream news is filled with positive stories. Given that there are no new developments, I will keep this update short and wish you all a merry Christmas and a healthy, prosperous new year. Regards, Jim $HMY (Harmony Gold Mining Co Ltd-ADR) $BABA (Alibaba-ADR) $TE (T1 Energy Inc) $KGC (Kinross Gold Corp)

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