Important context for my portfolio reviews: I run a concentrated portfolio and WARNING the swings can be huge. From the 2021 high to the 2022 low, my portfolio fell more than 60%. For every $100 I had at the top I had just $40 left! Staggering. So, before trying this style, even with a small portion of your total net worth, please understand the downside – it’s much steeper than if you own an index, or a bunch of megacaps. Also, don’t follow or copy me, Saul, or anyone. We may sell a position or buy a new one at any time, so it’s impossible to follow anyway. Also, to succeed with a concentrated portfolio, you must rely on your own decisions.
That chart is a little busy but I think it illustrates pretty well how I feel about things right now. My strategy has always been to concentrate into the best companies I can find, but right now there aren’t many if any companies standing out to me as “the best.” So as I’ve done a few times over the years, I’m concentrating my allocations less than usual.
I’ve been traveling and just haven’t had time to do my portfolio review, but we’re already 3 days into August, so I figured I’d go ahead and post this without much commentary. I’ll try to do a better job next month.
Bear
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” - Attributed to Albert Einstein
Previous Month Summaries
Dec 2016 (contains links to all 2016 monthly posts): Bear's Portfolio at the end of 2016 - Saul’s Investing Discussions - Motley Fool Community
Dec 2017 (contains links to all 2017 monthly posts): Bear's Portfolio through Dec 2017 - Saul’s Investing Discussions - Motley Fool Community
Dec 2018 (contains links to all 2018 monthly posts): Bear's Portfolio through Dec 2018 - Saul’s Investing Discussions - Motley Fool Community
Dec 2019 (contains links to all 2019 monthly posts): Bear's Portfolio through Dec 2019 - Saul’s Investing Discussions - Motley Fool Community
Dec 2020 (contains links to all 2020 monthly posts): Bear's Portfolio through Dec 2020 - Saul’s Investing Discussions - Motley Fool Community
Dec 2021 (contains links to all 2021 monthly posts): Bear's Portfolio through 12/2021 - Saul’s Investing Discussions - Motley Fool Community
Dec 2022 (contains links to all 2022 monthly posts): Bear's Portfolio through 12/2022
Jan 2023: Bear's Portfolio through 01/2023
Feb 2023: Bear's Portfolio through 02/2023
mid-Mar 2023: Bear's Mid-March Update
Mar 2023: Bear's Portfolio through 03/2023
Apr 2023: Bear's Portfolio through 04/2023
May 2023: Bear's Portfolio through 05/2023
June 2023: Bear's Portfolio through 06/2023