Thomas Parry Jones
United Kingdom
Dear investors, Happy New Year – 2026 has certainly started with a lot going on. We’ve already seen a number of geopolitical and macro events this year: tensions involving Venezuela and Iran, a criminal case opened against the Fed Chair that briefly brought impartiality into question (and was quickly rebuked by several former Fed Chairs and economists), and a newly announced 10% cap on credit card fees. The latter would most directly impact names such as $AXP (American Express CO), though the wider financial and banking sector could also feel a degree of slowdown as a result. Markets have reacted accordingly. Initially, markets trended higher, but yesterday and today my portfolio has pulled back slightly from the highs, mainly due to pressure on banking stocks. Interestingly, a later rally brought back the majority of those losses last night. Looking ahead, this feels like a sensible time for caution. We are still positive for the year, and trimming banking exposure while increasing cash holdings from current levels (around 10%) would be a prudent step. That said, timing remains difficult – selling into a falling market often means exiting positions at less favourable prices. As a result, I’ll be tactically trimming positions and closely monitoring developments as we move through what is shaping up to be a very busy 2026. Thanks, TJ Copy Trading is not investment advice | Capital at risk | Past performance does not guarantee future results.
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AXP
American Express CO
331.57
5.93 (1.82%)
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