A) SEPTEMBER 2016 ROLLING P&L
Here is the P&L as at 30th September 2016, which assumes you had taken a long/short position on my recommendation on the date of the article with £1,000 capital at risk. I do not always take exposures in all of the stocks I tip due to risk management purposes, i.e. not placing too much capital in one area. I may also have higher or lower exposure to individual stocks so this is not my actual gain/loss.
The total return inception to date is 12.99%, an increase of 7% compared to prior month. The FTSE100 delivered 2.6% versus portfolio return of 12.99% over the same period.
The biggest drag on the portfolio is my SELL call on Cloudtag. I still believe the stock is fundamentally overvalued though so my reccomendation hasn’t changed.
Two stocks reached their target in the month, Sirius Minerals and Sepura. These positions are now closed returning 26% and 41% in a matter of days.
B) PORTFOLIO ANALYSIS
I am starting to think we are pretty much at the top of the market, I am becoming more defensive by the months. I have just over half of my portfolio in cash and lower risk bonds and continuing to pick individual potential stocks.