William Amzand
William Amzand
Netherlands
3mo
π™‹π™€π™§π™©π™›π™€π™‘π™žπ™€ 𝙐π™₯π™™π™–π™©π™š 𝙖𝙣𝙙 π™ˆπ™–π™§π™ π™šπ™© 𝙏𝙝𝙀π™ͺπ™œπ™π™©π™¨ The market is currently struggling under the closure of the Strait of Hormuz. The seasonal portfolio experienced a large drawdown of 10%, bringing the YtD to -1.7%, which is still ahead of the S&P 500 which is down 5% on a YtD basis. The seasonal portfolio pivoted to (gold) miners for the month of March, however even though the geo-political risk has increased with the U.S. and Israel launching attacks on Iran, the price of gold suffered. As energy prices are rising, central banks have signaled hawkish responses to the inflation risk and as gold was trading relatively rich, it sold off heavily. which also impacted the gold miners. However the circumstances, this is not a reason to panic. Stock markets have historically shown strong performances post conflict. For now in the short term, the developments around the Strait of Hormuz will determine price action in the near term. Keep calm and carry on
Not investment advice. The author may have financial interests in the mentioned instruments.
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