Subject: StevnFool Port Update - 2024
My final 2023 report is at: https://www.shrewdm.com/MB?pid...
My last monthly report is at: https://www.shrewdm.com/MB?pid...
My numbers updated for December are below.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD CAGR GSD
Me 6.90% 7.03% 2.80% -4.67% 1.15% 0.75% 3.63% 2.31% -3.79% 0.67% 10.28% -2.69% 25.93% 25.93% 16.56%
NASDAQ 0.79% 6.27% 1.67% -4.08% 6.68% 6.28% -0.80% 0.72% 2.65% -0.39% 6.31% 0.54% 29.30% 29.30% 12.51%
DOW JONES 1.25% 2.41% 2.25% -4.88% 2.64% 1.16% 4.49% 1.97% 2.26% -1.26% 7.83% -5.19% 15.17% 15.17% 13.33%
S&P500 1.59% 5.22% 3.27% -4.03% 5.06% 3.53% 1.21% 2.34% 2.10% -0.89% 5.97% -2.41% 24.89% 24.89% 11.14%
Index Average 1.21% 4.63% 2.40% -4.33% 4.79% 3.65% 1.63% 1.68% 2.34% -0.85% 6.70% -2.35% 23.12% 23.12% 12.33%
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 2023 2024 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% 11.95% 25.93% 11.13% 12.35%
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% 45.73% 29.30% 13.68% 28.42%
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% 16.02% 15.17% 9.63% 16.70%
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% 26.18% 24.89% 10.69% 21.01%
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% 29.31% 23.12% 11.33% 22.04%
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 2024 and I have no plans for major changes in 2025. My current portfolio is not really MI at all in the traditional sense. It is approx:
60% Berkshire Hathaway
15% 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.
approx. 0.5% 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