My final 2021 report is at: https://discussion.fool.com/t/stevnfool-…
My last monthly report is at: https://discussion.fool.com/t/stevnfool-…
My numbers updated for December are below.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | CAGR | GSD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Me | 1.53% | 1.15% | 10.18% | -3.08% | -1.33% | -7.25% | 10.11% | -3.29% | -3.12% | 9.42% | 0.32% | -5.71% | 7.16% | 7.16% | 22.96% | |
| NASDAQ | -8.80% | -3.35% | 3.64% | -13.28% | -1.91% | -8.49% | 12.52% | -4.60% | -10.33% | 4.04% | 4.43% | -7.62% | -31.31% | -31.31% | 30.64% | |
| DOW JONES | -3.30% | -3.19% | 2.44% | -4.91% | 0.39% | -6.56% | 6.81% | -3.78% | -8.74% | 14.03% | 5.94% | -2.58% | -5.58% | -5.58% | 24.83% | |
| S&P500 | -5.27% | -2.96% | 3.76% | -8.78% | 0.23% | -8.25% | 9.21% | -4.08% | -9.24% | 8.13% | 5.23% | -3.98% | -16.89% | -16.89% | 25.55% | |
| Index Average | -5.79% | -3.17% | 3.28% | -8.99% | -0.43% | -7.77% | 9.51% | -4.15% | -9.44% | 8.73% | 5.20% | -4.73% | -17.93% | -17.93% | 27.01% |
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 | 2022 | 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% | 7.16% | 10.15% | 12.70% | |
| 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% | -31.31% | 10.86% | 29.10% | |
| 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% | -5.58% | 8.86% | 17.79% | |
| 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% | -16.89% | 8.84% | 21.83% | |
| 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% | -17.93% | 9.52% | 22.91% |
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 2022
and I have no plans for major changes in 2023. My current portfolio
is not really MI at all in the traditional sense. It is approx:
56% Berkshire Hathaway
14% 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