Thomas Parry Jones @thomaspj: "Dear investors, The past weeks have..."

United Kingdom

Dear investors, The past weeks have been centred on navigating the volatility and positioning the portfolio. Now that the market is showing some signs of steadiness, I’d like to provide a fuller update with my views. Year to date the portfolio is up +42.4%, with November currently down -6.9% after reaching highs of around +50% earlier in the year. The broader market has also sold off sharply this month, with the $SPX500 down -3.0% and the Nasdaq down -4.9%. Even though we remain comfortably ahead of the market YTD, drawdowns of this size are always something I work hard to mitigate. This pullback began with a widely-circulated tweet flagging a short position in Nvidia and Palantir, and was then amplified by continued government shutdown uncertainty. It has ultimately turned into a broader market reset without a single clear catalyst. At present, both the Nasdaq and SPX have RSIs around 40 and sit roughly 2% above their 100DMA, which should act as the next support level – though it does mean there is still some room for markets to move lower. I’m continuing to rotate the portfolio where necessary to position more effectively for a potential bottom. This period has been challenging, but it’s also the type of environment where disciplined strategy matters most. Selling into weakness isn’t constructive, and the focus now is on maintaining positioning that benefits from the eventual rebound. The strategy has delivered strong performance this year overall, and my focus remains on navigating the current volatility with the same discipline that has driven results to date. Thanks, TJ

SPX500

6921.51

11.18 (0.16%)

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SPX500

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