Portfolio update – September 2017

It is now the start of a new month so how did our portfolio perform in September?

Writing our first portfolio post earlier in September (Our portfolio) inspired us to go on a little stock spending spree, so we were quite active in September and bought three new stocks. We bought Intel, Salesforce and Facebook shares, so that kinda bumped up our tech exposure. Lets hope that it will prove to have been a good idea. Below is our portfolio as it looked ultimo September.

To compare our return to the market we have chosen to benchmark it against the American index S&P500 and an European ETF tracking MSCI Europe. Lets just say it as it is. September was not too good for our investments compared to the rest of the stock market…

The underperformance can be explained almost exclusively by our biggest single stock position in Fortescue Metals Group taking a big hit this month. The position has become the biggest in our portfolio by growing almost 3x since we bought it, so it has become quite a heavy hitter on the overall performance. We have considered selling some of it to reduce the exposure, but that would trigger trading costs and taxes (and it pays a lot in dividend, which we love), so for now we have concluded that we will reduce the exposure by buying more stocks.

Besides Fortescue we think our portfolio did okay…

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