Looking into Q2
The 🐿️'s 'Start the Week' note! Our weekly review of BUSHY™ and live Acorn trade ideas. 2026, Week 13.
In case you missed it, the weekend note was a deep dive (in collaboration my podcasting partner Benny) on the SpaceX IPO and its broader implications of this jumbo transaction on markets.
BUSHY™ is still in the process of slowly clawing its way back to the beta portfolio’s YTD high water mark set in late February. Having de-grossed aggressively (starting mid February), it is not surprising that we underperformed during last week’s strong rally in risk assets.
Quite comfortable staying underweight risk. At risk of repetition, the portfolio will stay that way until the Straits of Hormuz are re-opened. I see no upside in being tempted to jump the gun.
BUSHY™ closed Q1 +8.43% - 9.57% ahead of the Vanguard benchmark and 13.07% ahead of the S&P 500 - adding 18 bps in the first 2 trading days of Q2.
