Tuesday, November 01, 2022

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 = -7.26% 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 +12.5%

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