In case you missed it on Sunday, this week’s ‘Monday’ note focused on the carnage in the fixed income market and a new Acorn idea in precious metals.
The BUSHY™ Portfolio - Week 15
Plenty going on this week besides the usual BUSHY™ update. Portfolio hedges administered some pain last week, but fire insurance is a non-discretionary purchase.
After last week, the BUSHY™ portfolio is still down on the year, but losses have been trimmed to 0.58%. The portfolio’s underweight position in equities (especially US equities) and a significant drawdown in the hedge book (EUR puts and SOFR calls) accounted for BUSHY™’s weekly underperformance relative to benchmark.
