Stefan Bacik
Czech Republic
5m
Dear investors and followers, I’m reaching out to you once again with our regular monthly update and a brief commentary on the most important financial news. When it comes to our portfolio, the usual concerns about September — a month that historically has a reputation for being the weakest of the year — didn’t materialize this time. To be honest, I expected that a bit. Markets often tend to go against the prevailing sentiment. On the other hand, I wouldn’t celebrate too soon. There’s a real possibility that the “bad luck” of September may simply shift to October, which historically isn’t the calmest month either. One of the main drivers of September’s rally was the interest rate cut by the Federal Reserve System, which brought another wave of optimism to the markets. Lower rates mean cheaper money for both companies and investors, traditionally supporting equities. As a result, we closed September with a solid +8.41% profit, and October is also off to a good start — as of today, we’re up +4.41%. Overall, I believe we’re having a very strong year. Since the beginning of 2025, we’re already up +34.14%, but the key part will be how we navigate the final months of the year. The market still faces several important macroeconomic events that could influence investor sentiment. It’s also worth mentioning the renewed geopolitical tension between Donald Trump and China. In recent weeks, the rhetoric surrounding trade relations and potential sanctions has intensified again. Whenever politics enters the game, markets tend to become sensitive, and volatility typically rises. So far, it’s nothing dramatic, but if the conflict escalates, it could impact technology and export-oriented sectors in particular. Finally, I’d like to thank all of you who follow our portfolio. Investing is a marathon, not a sprint — and it’s patience and discipline that truly bring results.
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