My final 2020 report is at:
[https://discussion.fool.com/stevnfool-port-update-2020-34710260....](https://discussion.fool.com/stevnfool-port-update-2020-34710260.aspx)
My last monthly report is at:
[https://discussion.fool.com/stevnfool-port-update-nov-2021-34994...](https://discussion.fool.com/stevnfool-port-update-nov-2021-34994787.aspx)
My numbers updated for December are below.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD CAGR GSD
Me -1.08% 6.86% 7.63% 3.13% 0.92% 1.31% 0.70% 2.28% -1.79% 5.16% -0.62% 5.95% 34.37% 34.37% 11.38%
NASDAQ 0.87% 1.20% 2.23% 3.94% -1.56% 5.46% 1.31% 3.99% -5.24% 7.26% 0.55% 0.70% 22.11% 22.11% 11.87%
DOW JONES -1.92% 3.42% 7.33% 2.30% 2.19% -0.06% 1.37% 1.45% -4.22% 5.93% -3.53% 5.53% 20.83% 20.83% 13.29%
S&P500 -1.02% 2.78% 5.67% 4.17% 0.66% 2.25% 2.44% 2.97% -4.66% 7.02% -0.81% 4.62% 28.73% 28.73% 11.70%
Index Average -0.69% 2.47% 5.08% 3.47% 0.43% 2.55% 1.71% 2.80% -4.70% 6.74% -1.26% 3.62% 23.89% 23.89% 12.29%
Note that all numbers include dividends. I used the total returns of
the corresponding ETF's (ONEQ, DIA and SPY) as a proxy for total return
of the indices.
Just a look now at my performance since 2008:
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 CAGR GSD
Me -15.57% 11.69% 17.39% -3.22% 13.27% 20.02% 27.87% 2.86% 19.12% 6.32% 4.86% 19.90% -2.94% 34.37% 10.37% 13.18%
NASDAQ -39.50% 45.58% 17.60% -0.52% 16.20% 39.86% 15.78% 6.69% 8.81% 29.28% -3.18% 37.15% 44.87% 22.11% 14.72% 25.44%
DOW JONES -32.30% 22.36% 13.55% 8.25% 9.93% 29.64% 9.72% 0.09% 16.37% 28.08% -3.74% 25.03% 9.59% 20.83% 9.97% 17.93%
S&P500 -36.71% 26.46% 14.59% 2.07% 15.99% 32.31% 13.46% 1.23% 12.00% 21.70% -4.57% 31.22% 18.33% 28.73% 10.96% 20.89%
Index Average -36.17% 31.47% 15.25% 3.27% 12.19% 33.94% 12.99% 2.67% 12.39% 26.36% -3.83% 31.13% 24.26% 23.89% 11.88% 21.42%
The GSD numbers here are just calculated from the annual returns - not
from the monthly returns.
**Portfolio Make-up:**
I have not really made any major changes to my portfolio during 2021
and I have no plans for major changes in 2022. My current portfolio
is not really MI at all in the traditional sense. It is approx:
55% Berkshire Hathaway
19% QQEW. This was part of a timing system but I may just keep this as
a long-term hold. Due to the difficulty of trading US ETFs from Europe
since some recent law changes, I may not be able to buy it again if I
were to sell it.
<1% cash.
Remainder: Several value positions some sometimes held as cash secured
short PUT positions but mostly just long stock positions.
**My portfolio and currencies:**
I live in the Eurozone (Ireland) and back in 2003, I had a very small
portfolio and invested it entirely in NET-NET stocks. Measured in USD,
I had a portfolio return of 103% for the year. Measured in Euro
however, my portfolio return was 70%. The drop in the value of USD/EUR
had cut a significant chunk from my return. For several years, I hedged
a significant portion of my portfolio from USD back to EUR or to a mix
of other currencies.
My thinking on this has changed somewhat and I now feel that currency
hedging is more appropriate for cash balances rather than for the stock
portion of my portfolio. Since I don't tend to hold significant cash
balances for a long time, I dropped all my currency hedges during 2015.
I don't know if I will reinstate them in the future.
Because of my previous stance on currency hedging, I reported all my
returns in EUR but compared them to benchmarks in USD. I suppose this
is not really correct given my current approach to this topic, but
for continuity, I think I will just continue as I have been doing.
StevnFool
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