Thursday, 2 December 2010

Month-End Recap, Nov 2010

The second installment of a new feature: a very quick summary of my investment positions, to be published monthly. This is not investment advice and should not be construed as such.

I am currently 90% invested, as follows:

57% Agricultural commodities
10% Other commodities
16% Emerging market equities
07% Miscellaneous equities
10% Cash

My largest position continues to be in soybeans, followed by sugar.

A rather boring month for my portfolio, to be honest. PL-wise I was down a very small amount, small enough to be considered mere noise in the context of my YTD returns. (Many a trader has said these words and lived to regret them, ha ha).

I usually try to be between 85% and 105% invested, so I am below my average exposure here. Indeed, as planned and previously advertised, I reduced my net exposure in November, from 93% last month to 90% today, by selling some commodities and some Indian stocks. It's not that I'm particularly bearish or anything; it's just that I have no strong convictions at the moment and so would like to wait and see what develops while keeping some powder dry.

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