April Portfolio Update
Up 12.5% year-to-date versus 5.3% for the benchmark. Here's what I'm doing...
To read our full disclaimer, click here.
The SCR portfolio is up 12.5% year-to-date.
The S&P 500? 5.3%.
That’s roughly a 7% spread since the start of the year.
Discipline Through the Round Trip
Last month I wrote about the importance of not freezing in a sell-off. About leaning on Lee Freeman-Shor’s framework from The Art of Execution - that when you have conviction in a business and the price drops, you have to be willing to act.
I followed through this month.
The position I’d flagged last month for an add got the add. The price had moved against me, the thesis hadn’t, and there was no fundamental reason behind the drawdown to justify standing still.
So I sized up.
A New Research Portal for Paid Subscribers
The bigger announcement this month: I’m launching a new research portal for all paid subscribers later this month.
Everything in one place - every write-up, every watchlist, the full portfolio, and a clearer way to follow each thesis as it develops.
No more digging back through the archive to find the original write-up on a position.
It will all be there, organised, searchable, and updated alongside each new post.
This has been on my list for a while.
Building this out properly takes the research from “a series of posts” into something closer to a research platform - one place to track the entire process, end-to-end.
If you’ve been thinking about upgrading, this is the moment.
Pricing will increase later this year, so existing subscribers and anyone who upgrades before launch will lock in the current rate.
In the Rest of This Post
A position I closed this month, and why I no longer like the setup
The details on this month’s add, and where the position now sits
The earnings calendar for the next two weeks
The new ideas I’m tracking - including one I’ve recently published research on
How I’m thinking about portfolio construction from here