Busy couple of weeks on results front
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Netflix has broken through $900. An all time high. I will post an update tomorrow outlining the companies competitive advantage. The stock has performed exceptionally well and it has been watched very closed and actively managed to capitalise on the growth.
Regards
Adam
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Morning,
A few returns to Nov mend.
PHE +18.96%-since our changes to the model weights, the portfolio has performed very well. Now materially exceeding Fundsmith which has achieved 10.76%.
PHT +44.17%. Materially exceeding its benchmark by well over 50% and I often look at Nest Sharia as a comparison which has achieved +26.38%. Compare this to Fidelity Global tech which has only achieved +18.9%, quite poor given the benchmark performance of close to 30%.
Index 100 at 19.88% having also performed very well. No doubt do to its US biasIMOP Income+13.07% and Global growth +16.05%
Lifestyle Growth, our flagship is +33.09% continues to excel
Some great numbers as we look to close out the year
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HI O,
The figures are YTD (11 months), after fees and IMOP is Optimum
Regards
Adam
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Great work and much appreciated here.
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The Bells of Santa are chiming. Buoyed by the resignation of the Intel CEO and a flurry from Tesla, the Nasdaq and SP500 hit all time highs. It's the biggest day we have seen from Tech and Lifestyle for a while with gains so far > 280bps on tech and close to 200 on Lifestyle, thanks in part to SuperMicro which is +33% today. Meta and KLAC also posted outsized gains today and apple also hit an ATH
Regards
Adam
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This day in 2023......Bank of America called the SP500 2024 y/end target at 5,000.
KEY POINTS
CNBC's Jim Cramer reacted to Bank of America's bullish prediction for 2024, saying that for the most part, he's similarly optimistic.
Chief strategist Savita Subramanian wrote on Tuesday that the S&P could reach 5,000 by the end of next year, which would be an all-time high for the index.The prediction was made when the index was 4,540, i.e a 10% rise in 2024. An increase of 460 points. Today the index is 6,071, an increase so far of 1,531. He was only 232% wrong.
The takeaway is, no one can predict where an index is going over 12 months. The same 'expert' was favouring 'long value stocks, and short growth stocks'. We don't make predictions but focussing on the micro level(company), the details, gives one the greatest prospect of success.
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Yesterday Alphabet (GOOG) rose almost $10 on the back of news it had unveiled a new Quantum Computing chip, named Willow. The company said it sees the chip as an important step in their journey to build a useful quantum computer with practical applications for drug discovery and fusion energy. Where computational speed is key, Willow can perform calculations in '5 minutes' that would take the worlds fastest super computers today, 10 Trillion Trillion Trillion years. Quite fast it would seem
This sort of discovery is precisely why we hold GOOG. The company employs the brightest minds and invests for decades in moon-shot ideas. It's interesting that Nvidia are working with Google on this project. It could well be the next big thing (beyond 2035).
Classical computers use bits, which can be a 0 or a 1 which are either 'on' or 'off (0 or 1).
Quantum computers use qubits and due to the properties of quantum mechanics called superposition, a qubit can be in multiple states at the same time. This is how it achieves what Google describes as 'mind boggling' speed.A good analogy is a coin. In two dimensions it can be heads or tails but a spinning coin in the quantum realm can be anywhere in between.
There are other aspects such as entanglement which allows distinct qubits to work together leading to enormous computing power. It's a very complex field suffice to say it's an exciting break through and something to watch
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US CPI brings no Surprises, Firming Up Fed Rate-Cut hopes
CPI, core measure both rise 0.3%, in line with expectations
Fed rate-cut bets firm up with no inflation surprises
Rental costs cool but still make up bulk of CPI gain
Beef, pork, egg prices drive increase in food costsFutures up strongly
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The investment committee met today to discuss the portfolios and the wider market performance. A rebalance will be triggered in the next few days to apply a few tweaks to PHE/T and IML. Whilst the constituents within PHE have not changed, the specific holding weights have, which has driven considerable gains since July/August. PHE has now returned a respectable +20%YTD(real time) up from late single digits earlier in the year. IML is at a record at +39% and PHT 51-52%. There will be one stock change to IML in the rebalance.
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Hi G,
Probably tomorrow. Avoid PHT/PHE/IML if possible
Regards
Adam
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