Jordan Alvaredo @JordiAlvont: "📈𝐌𝐎𝐍𝐓𝐇𝐋𝐘 𝐑𝐄𝐏𝐎𝐑𝐓- 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟓📈 📊𝑹𝒆𝒔𝒖𝒍𝒕𝒔 ✅September 2025..."

Spain

📈𝐌𝐎𝐍𝐓𝐇𝐋𝐘 𝐑𝐄𝐏𝐎𝐑𝐓- 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟓📈 📊𝑹𝒆𝒔𝒖𝒍𝒕𝒔 ✅September 2025 - 6.76% ✅2023 - 13.96% (since May) ✅2024 - 36.47% ✅2025 - 46.32% 📈Cumulative - 126.27% The portfolio finishes September with a record 6.76% profit, and now the YTD profit sits at 45.23%. In contrast the S&P500 achieved a 2.92% profit in September, which is also a historical profit, unprecedented for decades. The evolution of the portfolio is going as expected and, assuming a uniform tendency, beating the 60% is perfectly achievable this year, but nothing is guaranteed. In this month we witnessed the decision of the FED to cut rates on September 17th, which the market digested as very bullish. This decision of the FED was influenced by the readings of inflation of August and the JOLTS, which indicated a very weak labor market and stagnating inflation. On the other hand, GDP was revised upwards and the market fell immediately, as it's a sign of strong economy, which decreases the possibility of another rate cut, but the PCE the next day aligned which what was expected and once again the market bet for the rate cut. This volatility after minor changes in the macroeconomic data shows the importance of patience and of maintaining a longer term perspective, while considering macro data with a general perspective. Taken individually and on short time intervals, the macro data doesn't really give a precise image of the state of the economy and thus it can be rather deceitful. My view is that there is a high probability of another rate cut in October, and this could lead to a rally for the end of the year, as I already expected. The last important factor to take into account are the earnings, but the estimates of the biggest components for Q3 of the S&P are good in general. It's also important that the macro data aligns with what is expected or ends up being even worse. 📚𝑵𝒆𝒘 𝒂𝒅𝒅𝒊𝒕𝒊𝒐𝒏𝒔 𝒂𝒏𝒅 𝒔𝒂𝒍𝒆𝒔📚 As you can see, I incremented the number of my assets by almost a 100%. This can be falsely seen as overdiversifying, but I added assets in small quantities, which represent less than a 30% of the portfolio. I did this to boost the portfolio's performance with riskier, more volatile and mostly tech assets, which can thrive in rallies due to very positive investor sentiment. As I said, in my view the end of this year will be really bullish, with a big rally that could hit its peak sometime along November, as it's historically an excellent month. Notice that this is my opinion based on the macro data, historical performance and my strategy, but no view is definite and the market could change its direction due to many factors. In contrast I mainly decided to sell banks because in the year-end they tend to perform worse and their growth is slower than other tech stocks during rallies, which I deem suboptimal for this year-end. I sold $BKT.MC (Bankinter) partially and got rid of $INGA.NV (ING Groep NV) I don't expect to change things significantly until the end of the year as I see my portfolio well suited to my view and strategy $BTC $NVDA (NVIDIA Corporation) $TSLA (Tesla Motors, Inc.) $SPX500 $ETH $NSDQ100 $AMZN (Amazon.com Inc)