Pick your Beta
Review of the 🐿️'s BUSHY™ Multi Asset ETF Portfolio and live Acorn trade ideas. 2025, Week 32.
In case you missed it, the weekend note came out on Sunday morning EST. In it, the🐿️ wrote up a new short idea in the US consumer space. Do check it out!
The BUSHY™ Portfolio - Week 32
BUSHY™ had a strong comeback week alongside most risk assets.
Before the portfolio review and a deep dive on a few of recent Acorn position changes, I wanted to share some thoughts I am having on my favorite low beta / ‘International Equity Yield’ factor theme.
Am a big fan of historian (Soviet expert) turned author and investor (PM at Federated Hermes)
and his books on dividend-based investment strategies.
If the pile of books by your bedside is already a bit too high, pick Daniel’s latest book on the topic The Ownership Dividend (2023). If you only have an hour, watch his excellent conversation with Russell Napier from a year ago.
I suspect that Daniel is pulling his hair out at the moment when contemplating the reality that those US CEOs with the largest piles of free cash flow at the moment are determined to spend it all (and more!) on AI data centers. His dreams of a mean reversion to more traditional capital allocation in US equities have probably been pushed further out over the event horizon.
Fortunately, Daniel runs an international dividend strategy as well as his flagship US one. BUSHY™’s focus on the dividend factor in international equities is now really starting to pay…dividends (sorry 😉). Let’s take a closer look.