Eugenio Catone @CatoneEugenio: "February ended with a decline..."

Italy

February ended with a decline of 2.35%, which was not an exciting result but in line with a general decline (S&P 500 -0.89% and Nasdaq Composite -3.38%). The portfolio's performance was certainly affected by Novo Nordisk's poor quarterly results, a position that I sold in its entirety. In February, new additions included SPGI, Netflix, and Uber, all companies with a solid competitive advantage and which are quite far from their historical highs. March did not get off to the best start after the US attack on Iran and the resulting problems for the global energy supply chain. The price of oil is rising again, the tech sector is struggling, a combination that reminds me very much of the beginning of 2022. It was not a bullish year, but it laid the foundations for the following three bullish years. I think it is pointless to hide the fact that there are many headwinds this year, potentially more than in previous years, but at the same time, there is not much we long-term investors can do. Without a crystal ball, we do not know when Trump will stop bombing, we do not know Iran's reaction, so we can only rely on a few solid certainties. In my case, that means staying invested in exceptional companies and, if necessary, buying on dips if the fundamentals remain strong. This is what I have always done since I started investing on eToro, and it is what I will do in the coming days/months/years. At the moment, I have a fairly high level of liquidity and do not feel the need to deposit any more money. In the event of a significant decline (15-20%), there is no doubt that I will invest some, if not all, of this liquidity. If that is not enough, I will deposit more liquidity. In short, the outlook for the whole year seems rather cloudy, but it does not change my belief in the companies in my portfolio and what I can achieve in the coming years. Finally, I would like to thank everyone who has increased the value of the copy. I noticed that there was a significant increase in February, my first truly red month in a while; this means that you share my countercyclical approach, which is to invest especially when things get tough. After three years of gains, I would say that a little turbulence is the least we can expect, and I am ready to face it. $SPX500 $NSDQ100 $NFLX (Netflix, Inc.) $SPGI (S&P Global Inc) $UBER (Uber Technologies Inc.)

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