Portfolio Update: Initiating Short on XLK
Initiating 5% Short Position on Tech (XLK) Dipping Our Toes on a Short Tech Trade We’re initiating a 5% short position on Tech through the XLK ETF. Last week we posted a Macro Note pointing out that Tech is a vulnerable sector in the recession we anticipate later this year. Tomorrow we’ll post a second […]
Read More
Portfolio Update: Closing BTC
Closing 3.1% Position on Bitcoin (BTC) and Moving Proceeds to Cash Taking Profits on Bitcoin, The Cryptocurrency Isn’t a Recession Hedge In today’s Macro Note, we make the case for closing our Bitcoin allocation in our Model Portfolio. Please refer to it for the details. Bitcoin is pricing in a scenario where fears of a […]
Read More
Portfolio Update: Closing EWY
Closing 4.7% Position on Korean Stocks (EWY) and Moving Proceeds to Cash (BIL) No Upside for Korean Stocks, Better Opportunities Elsewhere We added Korean stocks (EWY) to our portfolio in late-November as a bet that China’s removal of Zero Covid policies would stimulate global growth and our expectations of a weakening dollar. Our view came […]
Read More