Breaking 100% Return & Trading disclosure

I can today proudly and happily announce that I reached over 100% return since I started this blog in March 2016. To be exact a 104.9% return vs MSCI World at 60.1%. This has been done with a volatility (16.2%) lower than MSCI World (17.1%) and a 0.77 correlation, all measured on weekly returns since inception.

Even more pleased am I with the return characteristics. I outperformed when it mattered the most, both the sell off end-2018 and recent Covid-19 sell off.

Further if you consider:

  1. That my portfolio has been severely underweight USA, which is the top-performing market during this period.
  2. At many times half of my portfolio has been in “value” stocks, again stocks that severely under performed the market.
  3. Mega caps and tech have been driving much of the performance and I have at most been equal weight on tech and always underweight mega caps.

So I had the chips stacked against me from several perspectives. Anyhow I delivered out-performance and especially when it mattered the most! When I set out on this journey some 5 years ago, to prove if I could deliver alpha, I had no idea if I could do it. I think you need a good 10 year track record to truly tell that you are not just lucky, but this half way point is worth some celebration! Yay to me!

Trading disclosure change

Almost all other good blogs I follow do not fully disclose their holdings and portfolio changes. That was something that always annoyed me, why not just be transparent? From the start of this blog I decided to disclose each and every portfolio change through a post to you readers. From today there will be no posts on each portfolio change, instead these disclosures will be moved to a separate page. All the portfolio changes will from now on only be available on the Trade History page. Here you can find my latest portfolio changes and below that I provide full disclosure of all my trades since inception.

The reason for this is two-fold:

  1. Too much of my blog posts goes to updating about portfolio changes. My blog posts will instead focus more on my thoughts of companies, strategies, themes and most of all stock picks.
  2. It’s going to be more time efficient for me, instead of providing a full blog post for each portfolio change.

27 thoughts on “Breaking 100% Return & Trading disclosure

    1. No new thoughts really. Pre-covid I was willing to increase my position. Now I have been waiting for confirmation that the company can weather through this..

  1. Are you back below 100% return ? If so, no worries. You can celebrate the achievement twice. 🙂 !! Or thrice !!! X-D !!!

  2. Congrats ! Keep up the good work !

    Very much your analysis work especially on GA Pack which really give me new insight to the industry. and i am now a shareholder, haha !

    Cheers

    1. Glad to hear you are onboard. I think the latest semi annual was very strong and market again treated the good results with a big yawn. Best of luck to the both of us!

      1. Yes, indeed result was good ! expect china segment to perform better than 1H2020 but it drop instead.
        Any idea why is this so ? cross-check against China Mengniu and some other diary companies in china show a higher revenue for 1H2020.

  3. Congrats! Seems like a great track record!
    I like your introduction of the dedicated trade history page. It is a constant struggle to decide for total transparency (posting every trade) or posting higher quality content. Your solution should enable you to deliver both and I might adopt it…
    But, I believe I will include all trading activity in my annual reviews.
    Thx for sharing, and keep up the great returns.
    Best, s4v

    1. In the end I think few readers care that much about the transparency. People just want to read unique insights and investing ideas

  4. Congrats!

    I happened to visit here last week as I was doing some online research on one of our common holdings (greatview aseptic packaging). I found your posts really insightful and inspiring.

    Pls keep up the good work and I look forward to sharing more thoughts with you .

    Thanks!

  5. Congrats GSP. I visit your blog from time to time and your content has also gone some ways to developing my own philosophy on investing. Very well done!

      1. Impressive performance and gratitude for all the posts and hard work. I am always looking forward to your insights or analysis about companies or situations.
        Keep up the good work
        Phil

  6. Congratulations — it is a real milestone! Your thoughts/ideas have always been refreshing and it has been a real pleasure to watch you refine your portfolio management and selection process over the years. Here’s to another 5 years and 4000 bps of outperformance!

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