Mehmet Yurtseven
Mehmet Yurtseven
United Kingdom
9mo
Dear Copiers and Followers, We are still riding the market’s momentum. Everything feels overextended—let’s see where this leads. Our portfolio hasn’t moved decisively for the past two months. AI stocks continue to push the market into dark places. I hope I’m wrong… With all the volatility and euphoria in the markets, it’s worth revisiting the timeless investment principles of Benjamin Graham (and, by extension, Warren Buffett): Treat stocks as a business owner. You’re buying part of a business, not just a ticker or a piece of paper. Stop speculating. Do your homework and avoid the hype. Boring investing builds wealth. Maintain a margin of safety. Buy at a discount and at the right time. Remember: “The stock market is designed to transfer money from the impatient to the patient.” Pick a side. Decide whether you’re investing by analyzing individual companies or following the overall economy through diversified indices—like this portfolio. Exercise emotional discipline. Control yourself. If you feel panicked (like during the April lows), consider investing more. Before taking any action, have a plan—and make sure that plan is not “This is falling hard; I’ll sell now and buy it back when it bottoms.” As for our portfolio, I reviewed Pepsi ($PEP). The company delivered a modest beat and showed some signs of revenue stabilization, which is encouraging. However, margin and EPS pressures persist, particularly with North America remaining almost flat. I didn’t see enough improvement, so I decided to close the remaining position. Happy investing, Mehmet
Not investment advice. The author may have financial interests in the mentioned instruments.
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