August 2024 Report
During the recent volatility, the best
action for me was to do nothing. It’s really hard to pull the trigger as I did
not see any real values during the sell off. The only action I took was to sell
puts on several tech stocks during the sell off. There was fear out there so
the option premiums were quite attractive. The market should be fine. with
the anticipated September rate cut. As they say, “Don’t fight the fed”.
So, what did
well in August? Apple, Visa and Mastercard… Apple continues to rally on the highly
anticipated iPhone 16 launch. Do I buy this Apple AI upgrade cycle? Definitely,
I actually purchased a new iPad Air to take advantage of the upcoming AI features.
This will be nothing like the muted 5G upgrade cycle where the user did not really
have any use cases. Visa and Mastercard are rallying based on the anticipated
rate cut that will spur the economy. Visa and Mastercard are amazing companies,
they do well in all types of economies.
I’ll continue
to play it safe for the remainder of the year by maintaining a healthy cash
position of ~9% and try not to do anything stupid. There will likely be some volatility
as we head toward the elections.
2024
Performance = + 11.55% with the running monthly returns as follows:
January +
0.02%
February +0.99%
March – 0.33%
April - 3.07%
May + 5.16%
June + 3.52%
July + 2.42%
August + 2.52%
February +0.99%
March – 0.33%
April - 3.07%
May + 5.16%
June + 3.52%
July + 2.42%
August + 2.52%
0 Comments:
Post a Comment
<< Home