LM portfolio as at 08/07/2022:
| Code | Sector | Date Bought | Cost | Value | Gain/Loss |
|---|---|---|---|---|---|
| LM045 | Gas, Water & Multiutilities | 06/12/2021 | £1280 | £1180 | (7.88%) |
LM047 was closed last Wednesday following the across-the-board down day in the previous session. It was a two-unit position in Brent Crude and made a little bit of profit.
At one point, of course, it was showing a profit of nearly 4 figures but had fallen back to the point where a sell signal was given.
Pretty much everything was in the red on Tuesday - indices, commodities, shares, Bitcoin (although everyday is a down day for Bitcoin now).
So that leaves the LM fund with just one little investment of one unit and a stack of cash equivalent to almost 21 units.
When the market turns and the signal is given there will be plenty of cash to invest. And the hope is that this gives the portfolio a rocket up its behind - I want to see all-time highs every week.
Something needs to make up for this, excuse my language, piss-poor weak market.
Take my old favourite the FTSE 250. We're in the 2nd half of 2022 now and this index is down 20% this year with no sign of this changing any time soon. It's not alone as across the Atlantic Ocean the S&P 500 is down around 19% since the 1st January.
One half of the podcast duo I listen to admitted that he is down 18% this year - which is probably more like 25% but we'll give him the benefit of the doubt.
His sidekick claims to be up so far this year but this is doubtful. He's just the type of person who wouldn't be able to admit he was down.
Despite the general advice from several gurus that goes along the lines of "time in the market is better than timing the market" I am happy to be out at the moment.
I keep an eye on several shares that have been recommended to me (indirectly) and see that there's no point buying them even if I wanted to as in the present climate they are always cheaper the next day.
The markets are sliding down but I am doing my best to make sure they don't take my investment pot with them.
I'm trying to make money by not losing money.
The price action of Gold must be really worrying to the Facebook experts of the world.
I'm talking about Tom, who once read a post on social media about "fiat currency" and is now an expert.
Currencies like the US Dollar, the Euro and the British Pound are doomed but he's not worried as Gold always goes up in value - at least that's how Tom understands it. Must be difficult to see this "inflation hedge" down 5.6% since January.
Then you have the Bitcoin experts on Reddit who are stocking up whilst it is "cheap". Good luck with that, hodlers.
Many of the shares which are hitting new 52 week lows will at some point turn around and start hitting 52 week highs. Then some of those will continue on to make new all-time highs. And when this is happening I imagine the whole market will have turned around and will be booming. By then I expect to be fully invested and making very good returns, increasing my bank by a high percent.
What I refuse to do is lose money now chasing weak financial instruments as that would put me in a position where I have to make up losses before I make new all-time portfolio valuation highs.
No, I'll wait for now and concentrate on other things until the stockmarket starts playing ball again.