#120 - Portfolio Update Aug2024

TL;DR

Worst month, best month.

6-figure swing from the Yen carry trade unwind flash crash to the end of the month.

Performance update

Holdings

Highlights

Top contributors:

• $DRM.TO: Thank you Bank of Canada for the rate cuts.
• $HR-UN.TO: Thank you Bank of Canada.
• $XMTR: growing when competition is struggling.

Top detractors:

• $AEBZY: Big negative month.
• $DNP.WA: Difficult times for Polish grocers.
• $BUR: Meh.

Changes

• New:
  • $WED.V: Seems like a decent R/R, assuming management will indeed return some money to shareholders.
• Added:
  • $HR-UN.TO: just seemed too cheap.
  • $WISE.L: Added again.
  • $GIGSEK.ST: Added a tiny bit.
  • $EVVTY ($EVO.ST): Added a tiny bit on weakness.
• Trimmed:
  • N/A
• Exited:
  • N/A

Learnings

Selling $CPH.TO the way I did was a mistake. I sold too quickly. It was painful to see it keep climbing up.

Next time, I can’t sell without assessing the new information.

And I can’t sell just because uncertainty went higher or because I think it’s too hyped.

Outlook

I’m having a hard time finding super compelling new ideas.

Watchlist

$BRBY.L $DOCS.L $PHX.AX $5958.T $OTL.OL $QRTEA $DHT-UN.TO