AndreaMarcon16 @AndreaMarcon16: "📊𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear..."

Switzerland

📊𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear Copiers & Followers, As we head into the 𝗳𝗶𝗻𝗮𝗹 𝗺𝗼𝗻𝘁𝗵 𝗼𝗳 𝟮𝟬𝟮𝟯, I thought I would write a 𝙨𝙝𝙤𝙧𝙩 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙪𝙥𝙙𝙖𝙩𝙚 post as always... 📈 November proved to be a 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗹𝗲 month, with the portfolio recording a +𝟮.𝟯𝟲% 𝗴𝗮𝗶𝗻, more than restoring last month's losses and bringing our 𝗬𝗧𝗗 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝘂𝗽 𝘁𝗼 +𝟯.𝟴𝟭%. The positive market environment and recovery 𝗮𝗹𝘀𝗼 𝘀𝗮𝘄 𝗺𝗮𝗷𝗼𝗿 𝗶𝗻𝗱𝗶𝗰𝗲𝘀 𝘀𝘂𝗰𝗵 𝗮𝘀 𝘁𝗵𝗲 $𝗦𝗣𝗫𝟱𝟬𝟬 𝗿𝗲𝗰𝗼𝘃𝗲𝗿 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗹𝘆 𝗳𝗿𝗼𝗺 𝗿𝗲𝗰𝗲𝗻𝘁 𝗹𝗼𝘀𝘀𝗲𝘀, bringing it's 3-month performance back into the green, at +1.53%. As anticipated in last month's update, the downturn in the market seen over the months of September and October, while unpleasant, provided us with interesting entry opportunities at lower prices. 𝗧𝗵𝗲𝘀𝗲 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀 𝗽𝗹𝗮𝘆𝗲𝗱 𝗮 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗿𝗼𝗹𝗲 𝗶𝗻 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿'𝘀 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 as we saw a significant rebound in the market. 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 also saw a number of 𝙙𝙞𝙫𝙞𝙙𝙚𝙣𝙙 𝙥𝙖𝙮𝙢𝙚𝙣𝙩𝙨 from shares in the portfolio, including $NRG (NRG Energy Inc) , $VRN (Veren Inc) , $CTRA (Coterra EnerCoterra Energy Inc) and 𝙣𝙤𝙩𝙖𝙗𝙡𝙮 $PBR (Petroleo Brasileiro SA Petrobras-ADR) , among others. As regards any specific 𝙘𝙝𝙖𝙣𝙜𝙚𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤, we: ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 1/3rd of our investment in $VALE (Vale SA-ADR) (𝟭𝟯.𝟱𝟲% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 1/4th of our investment in $TPR (Tapestry, Inc) (𝟭𝟭.𝟰𝟰% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 1/3rd of our investment in $GGB (Gerdau SA-ADR) (𝟵.𝟮𝟱% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a new position in $INMD (Inmode Ltd) (𝘂𝗽 𝟮𝟯.𝟵𝟲%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a new position in $RF (Regions Financial Corp) (𝘂𝗽 𝟭𝟰.𝟭𝟴%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a new position in $CSCO (Cisco Systems Inc) (𝘂𝗽 𝟬.𝟲𝟳%) 🔍 𝗪𝗵𝗮𝘁 𝘁𝗼 𝗲𝘅𝗽𝗲𝗰𝘁 𝗶𝗻 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿... ◾ December has a solid 𝘁𝗿𝗮𝗰𝗸-𝗿𝗲𝗰𝗼𝗿𝗱 𝗮𝘀 𝗮 𝗵𝗶𝘀𝘁𝗼𝗿𝗶𝗰𝗮𝗹𝗹𝘆 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗺𝗼𝗻𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝘀𝘁𝗼𝗰𝗸 𝗺𝗮𝗿𝗸𝗲𝘁, and seems to have started that way. However, it is important to keep in mind that 𝗽𝗮𝘀𝘁 𝘁𝗿𝗲𝗻𝗱𝘀 𝗰𝗮𝗻𝗻𝗼𝘁 𝗽𝗿𝗲𝗱𝗶𝗰𝘁 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲. As always we will head into the new month with a cautious approach based on fundamentals, entering new positions when favorable entry opportunities present themselves We are also expecting 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 from: $MGY (Magnolia Oil & Gas Corp) , $GGB , $CRC (California Resources Corporation) , $TROX (Tronox Holdings PLC) , $KEY (KeyCorp) and $SWKS (Skyworks Solutions) among others. This is all for now, happy trading everyone, Andrea