Tuesday, December 03, 2019

November 2019 Performance

November was a strong month with the market hit new highs. My portfolio just went along with for the ride. One interesting stock was Qiagen (Ticker: QGEN), which went from a dog performer to a rising star. As you may know, Qiagen pre-announced an earnings warning and CEO departure, which led to the stock hitting new lows. With the company in limbo, several acquirers approached the company with a potential deal. This in turn has propelled the stock to new highs. What a turnaround in stock price! I do think a deal will be announced shortly and I am looking for something in $50+ per share. Thermo (Ticker: TMO) will most likely win the prize.

I positioned my portfolio with a bearish tilt in 2019 with a hefty cash position, which I never got to deploy (yet). I am really surprised that my portfolio was able to generate these returns. I wish I can say it was skill, but luck is definitely a factor. My special situations plays were limited to a few positions in the beginning of the year. Nothing else since… So no significant alpha contribution to the portfolio. 

We’ll see if I can end the year on a strong note…

2019 Performance = +36.05% with the running monthly returns as follows:

January +7.4%
February +3.7%
March +5.06%
April +7.15%
May -7.90%
June +8.2%
July +1.88%
August +1.00%
September -0.09%
October +1.12%
November +4.75%


At December 07, 2019, Anonymous Anonymous said...

Long time reader, first time commenter. Thanks for sharing your insightful opinion. Is your portfolio weighting roughly the same that you shared back in July?

At December 10, 2019, Blogger Money Turtle said...

Hi, Thanks for checking out the blog. My portfolio position / weighting has not changes since July. I do reinvest dividends so there is a small incremental change, but minimal impact to the portfolio performance over the short term.

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