Portfolio Updates – 1H2016

The markets have been very volatile this 1st half of 2016. Such volatility has typically benefited the nimble. As my portfolio is one that’s constructed to have minimal turnover, I have seen my net assets under management rise and fall without much overall changes in the past 6 months. Still, I’ve managed to barely beat the STI ETF. (updated portfolio performance)

As a result of some luck, I’d been able to profit from some S&P shorts, currency Fx and some well timed divestments and subsequent investments.

I’ve sold out the remaining of my British pound at a tiny profit.

As mentioned in this post: Capitalizing on Brexit – Portfolio changes, I’d invested a small amount in the British Pound with it’s huge fall. It rose substantially after my initial investment, but I failed to capitalize on the bulk of the rise, only selling out at 1.334.

125) Pound to USD.jpg

Still, a profit is a profit. Especially since it’s been less than a week. I’ve always intended to be flexible with Fx. There are too many moving parts, with too little basis for fundamental analysis to set up long term large positions.

I consider myself to be very lucky this one instance, as the pound dropped literally right after selling out:

126) GBP v USD chart.jpg

Well, we all need a bit of luck once in a while.

I’m excited for 2H2016 as my portfolio performance has been dragged down by Valeant. If my investing thesis is correct, over the next few quarters, Valeant will strongly exceed market expectations and the share price should correct very substantially. If the other companies I hold can “cover” the exceedingly poor performance of Valeant in 1H, I’m expecting a strong overall performance for the full year.

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3 comments

    1. Anyone who has Valeant, has it at a loss currently. But have faith. I’m excited about the upcoming Q2 results, I’m expecting the Walgreens deal to get ironed out soon.
      Q2 should give an indication of the true, long term earnings of VRX

      Like

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