October 2022 Performance
I guess when everyone is bearish, the market fools everyone and rallies. I certainly did not expect such a strong October rally. I continue to stay fully invested with ~ 5% cash position as I stink at market timing. My portfolio has not changed, and is comprised of the following positions: Apple, Constellation Brands, Visa, Mastercard, Qiagen, Airbnb and Ginkgo Bioworks.
I did go big in Twitter by selling short Puts, but almost bit
the dust when there was a rumor that CFIUS was going to investigate the merger
with Elon. Twitter plunged overnight and I didn’t even realize until I saw the
pre market price in the morning. Fortunately, the Puts that I sold were way out
of the money and they managed to expire worthless. The spread in Twitter stock was
simply unbelievable even though closing was essentially 100% the next day. I
went in really big the day before closing as the risk reward was extremely
favorable. It’s not often that you literally see free money.
2022 Performance = -7.25% with
the running monthly returns as follows:
January -0.68%
February -6.00%
March +4.89%
April -4.41%
May -2.90%
June -7.28%
July +12.5%
August -3.1%
September -9.5%
October +11.55%