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Portfolio update
Tough month. Practically every single stock in the portfolio weakened. The primary driver was the strength of the US Dollar strengthened. The only stock that did well was CNOOC, which happens to earn its revenues in US Dollar. My portfolio lost -2.6% in April in US Dollar terms and is now +26.5% since inception in October 2021, equivalent to an IRR of +9.7%. To be clear, this is an actual portfolio that represents a majority of my personal savings.
One of the biggest losers was L’Occitane, whose share price dropped a bit before it was suspended. It’s now been two weeks and counting. My Hong Kong restaurant stocks declined further. Bloomberry Resorts dropped over 10% as well. I suspect that drop is related to the settlement of a lawsuit with former partner GGAM.
But as mentioned above, the real issue has been the strong US Dollar. Here is the DXY index, which measures the strength of the US Dollar against six other currencies:
Heres’ how my Asia-focused portfolio looks like, as of 25 April 2024:
