September 2024 Report

I’m still status quo and just continue to build up cash. I was able to crank out a return of 2.11% for September. Cash is still attractive for the time being with money markets yielding around ~ 4.6%. I’ve become much more conservative with my investment style as I get older. I remember in my younger days I would go on full margin with risk arb plays and on occasions even getting margin calls. Those days are long gone, and preservation of capital is an important strategy for me. You don’t want to make a wrong move and loose a fortune.

No changes were made to my portfolio as I continue to look for value plays, which I am unable to find. I was hoping Visa would decline more with the recent antitrust lawsuit so I can pick some more up. I really fine it annoying how this administration is filing antitrust lawsuits left and right. I hope they start losing some of these frivolous lawsuits such as Tapestry’s bid for Capri.

It looks like the IPO market is starting to thaw with some recent filings. I was trying to get my hands on Standard Aero but was not able to get an allocation. This company was priced very attractively as it was clearly underpriced to ensure a nice IPO pop. Looking for some top tier companies to come public such as Databricks, Stripe and of course SpaceX.

2024 Performance = + 13.90% 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%
September + 2.11%