A short copier update:
We are having a seriously rough start of November. A correction has been expected since September and we are well positioned to buy the dip, but I feel kind of sorry for those of you who chose to copy during October because you will have quite a negative start. But we keep a long term perspective and with more than 1/3 of the portfolio as balance. we can really buy a lot in the coming dip.
But this highlights the problem that institutional investors have. I'm by no means an institution but PIs get the same problem. If I invest only for my self, a considerable drawdown is no problem because I'm completely confident that it will pay off in the long run. And if ou buy BTC at 80 000 or 110 000 will do little difference when I sell them for 1 000 000 down the line. But having copiers mean that I don't only accept drawdown for myself, and that incentivizes adaptation in strategy that inevitably will be less rewarding in the long run. Capital preservation in the short term becomes more important than otherwise.
I'm fully accepting a red November for a very green 2026. I really hope all of you can do this too.
If you have any doubts or questions, don't hesitate to ask them.
Regards
Jonathan
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