Performance since Portfolio start in 2018: +100% โ
Performance this year: +28% โ
Target ROI: +30% annually โ
๐ฌ๐๐๐๐ ๐พ๐๐๐๐๐ ๐ผ๐๐ ๐๐๐ - ๐ช๐๐๐๐๐๐๐
Hi Everyone. There is still lots of volatility around at the moment, and today has sparked a sell off to start the trading month in US markets after the Labor Day holiday! This is expected given the hype surrounding the US election and various media stories around at the moment. No changes to the portfolio, although I did scrape a little profit off some positions and reinvest them today on assets that are more than 5% down to add some momentum to the coming months where money printing will start in earnest after the election, and US interest rates start to come back down. Not much else to say as the portfolio is pretty static. $MCK (McKesson Corp) and $NOVO-B.CO (Novo Nordisk B A/S) continue to recover as my risk off assets, and $GLD has been doing really well. $BTC bull run is still intact, and Q4 should be explosive so patience is required at this point...
Have a great week!
๐ฆ๐๐ผ๐ฐ๐ธ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ:
IStocks end mixed in light pre-holiday trading:
The major indexes ended mixed in a week of light trading ahead of the holiday weekendโT. Rowe Price traders observed that fewer shares traded hands Monday than on any other trading day so far this year, excluding early closes. The technology-heavy Nasdaq Composite fared the worst, dragged lower in part by chip giant NVIDIA, which lost nearly 10% of its value, or roughly USD 300 billion, at the stockโs low point on Thursday. Relatedly, value stocks outperformed growth shares by the largest margin since late July. Markets were scheduled to be closed the following Monday in observance of the Labor Day holiday.
Reassuring growth and inflation data:
With earnings season nearly overโNVIDIAโs report following the close Wednesday being the major exceptionโthe weekโs fairly busy economic calendar appeared to play a large role in driving sentiment for those traders still in the office. The most closely watched data point was probably the Labor Departmentโs release of its core personal consumption expenditures (PCE) price index on Friday morning. The Federal Reserveโs preferred inflation gauge showed prices rising by 0.2% in July, largely as expected, although the year-over-year increase came in a tick lower than consensus, at 2.6%. Investors seemed pleased with confirmation that inflation was remaining subdued and near the Fedโs target, with Nasdaq futures, in particular, surging in the wake of the release.
The week also brought some hopeful signs that the U.S. consumer was proving resilient in the face of the cooling labor market. The Commerce Department reported Friday that personal incomes had increased an unexpected 0.3% in July, up from Juneโs 0.2%. Personal spending rose even more, 0.5%, although the gain was in line with consensus. The Commerce Department also revised upward its estimate of the annualized growth in gross domestic product in the second quarter, from 2.8% to 3.0%. The increase was driven largely by a substantial upward revision in consumer spending over the quarter, from 2.3% to 2.9%.
Upcoming Events:
Tuesday September 3 - ISM Manufacturing PMI (August)
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